The Association of securities companies of Thailand (ASCO) is evaluating the launch of a joint venture cryptocurrency exchange with other securities companies and revealed its plans to apply for a commercial license. Pattera Dilokrungthirapop, the head of the association, during an interview with the Bangkok Post, revealed that several securities companies in the territory have shown interest in operating businesses with cryptocurrencies, as well as launching ICOs, for which they have proposed to request a license from their Securities and Exchange Comision, in order to reduce operating costs.
Pattera also clarified that digital commercial operations are permitted under the
commercial licenses of securities companies; not to mention that these companies already have the necessary infrastructure to undertake in the decentralized sector. He also added that,
“We are confident that investors will prefer to trade with us, since we have been in the securities trading business for a long time. We can guarantee that we are a
trustworthy entity.”
It should be noted that in compliance with the regulations issued on May 14, all companies involved in the cryptocurrency market, the sale of ICOs, establishment of exchanges, as well as brokers and distributors, must be registered with the SEC of the region in a period not greater than 90 days from the start date of its activities.
Secretary General of the SEC in Thailand, Tipsuda Thavaramara, commented that the entity in charge of ensuring the law will issue, in the coming months, a series of measures, as well as clearer regulations in regards to the registration process for new licenses.
by Emanuel Andrade
