The Association of Thai Companies for Securities Trading considers the launch of the exchange for crypto currency
The Association of Thai Securities Companies (ASCO) is considering the possibility of creating a joint trading exchange for Crypto Currency, the local news agency Bangkok Post reports.
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Pattera Dilokrungthirapop, chairman of ASCO, said that several Thai securities trading companies will apply for a joint license with the Thai Securities and Exchange Commission (Thai SEC) in order to reduce the costs of trade and technology sharing.
With the help of a business license, firms can become brokerage agents and digital asset dealers, and manage wallets with electronic tokens. Nevertheless, companies should, in the first place, adequately separate these assets with an appropriate system of preserving the property of the investor.
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The Chairman said that investors “will prefer to trade with us,” since the trading in securities is analogous to digital assets trading, and “we have long earned a reputation in this business.
He also added that ASCO securities companies are interested in conducting initial coin offerings (ICO) and that the organization will work with the Thai SEC to allow companies to expand operations in the field of crypto currency.
In mid-May, Thailand’s legislative framework for crypto-currency, which defines them as “digital assets and digital tokens” , came into force and now they fall under the jurisdiction of the Thai SEC.
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