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Thai CVM Approves Crypto Operators To Serve Customers

Taliban regulators have announced that they have approved seven business entities to carry out cryptomoeda operations as part of the country’s domestic market formalization.

The Securities and Exchange Commission of Thailand (CVM) has confirmed Bitcoin Co. Ltd., Bitkub Online, Cash2coins, Group Co. and Coin Asset. Ltd. were able to operate as legal cryptomeda exchange houses. In addition, the regulator has approved two dealers of cryptomoedas: Coins TH Co. Ltd. and Digital Coin Co. Ltd. (ThaiWM).

The measure is part of a package of “transitional” rules governing crypto companies operating in Thailand before the first installment of the regulations that came into force on May 14. These entities continue to serve customers as they apply and await a full license, notifying the Thai CVM within 90 days after the May deadline.

“In addition, the CVM is currently reviewing data from two other digital asset operators who submitted a request under the Transit Provisions,” the statement said. Last week, the CVM also revealed strong interest from potential issuers of the Initial Currency Offer (ICO) in the application for regulated status in Thailand.

More than 50 projects had come forward, and the regulator, with pre-defined requirements, needed to be met to be considered for approval. As of June, however, only five candidates met the prerequisites.

Source: Bitcoins Vision

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