The local new Bangkok Post reported July 2, that the Association of Thai Securities Companies (ASCO) is leaning towards establishing a cryptocurrency exchange, with plans of applying for a crypto exchange license for several firms.
ASCO chairperson, Pattera Dilokrungthirapop told the Bangkok Post that there are some Thai firms that will be applying for a joint crypto exchange operating license to the Thai SEC for then to reduce cost and share technologies.
Firms can easily become digital assets brokers and dealers, and they can also operate digital token e-wallets with just a securities business license. However, they must securely separate company assets with a property preservation system.
Dilokrungthirapop confidently said that crypto investors “will prefer trading with us,” and he added that, “we have been in the securities trading business for a long time.”
The chairperson also mentioned their interest in ICO portals and that they will work with Thai SEC to expand more on to the digital assets field.
In May this year, the legal framework of Thailand came into force and defining cryptocurrencies as “digital assets and digital tokens” which brings then under Thai SEC jurisdiction.