The Thai Securities and Exchange Commission (SEC) has announced a list of four approved cryptocurrencies for use as base trading pairs in the country. The regulator reportedly took into account factors such as sufficient market liquidity and a well-designed decentralized system.
Currently, there are four cryptocurrencies that can be used for base trading pairs. They are bitcoin (BTC), ethereum (ETH), ripple (XRP), and stellar (XLM).
– Thailand Securities and Exchange Commission
However, the regulator clarified that approval does not make these coins legal tender that can be used to pay off debts. Thailand Now Has 4 Approved Cryptocurrencies The Bangkok Post explained that “The main criteria for cryptocurrencies the SEC has announced include sufficient market liquidity, a well-designed decentralised system and being able to use [in] a trading pair with other cryptocurrencies.” Noting that it took into account factors such as recent news surrounding these cryptocurrencies, the SEC said the list may be modified periodically. This list replaces the previous one announced in June last year, with some cryptocurrencies removed. The regulator emphasized that this change will not affect crypto investors or businesses in the country in any way because licensed exchanges are not currently using them as base trading pairs and no ICO has been approved for investments.
Approved Crypto Exchanges
Thailand currently has three licensed crypto exchanges and one broker-dealer. In January, the SEC started issuing licenses to crypto companies that had been in business prior to the regulation taking effect in May last year.The three approved exchanges are Bitcoin Exchange Co. Ltd. (Bx), Bitkub Online Co. Ltd. (Bitkub), and Satang Corporation (Satang Pro). The only approved broker-dealer is Coins Th Co. Ltd.