Thai SEC cancels seven cryptocurrency operators to serve customers, two more reviews

The Thai regulators announced on Thursday 16 August that they have so far approved seven corporate entities to conduct cryptocurrency operations in the context of the formalization of the country's national market.

In a statement, the Securities and Exchange Commission of Thailand (Thai SEC) confirmed Bitcoin Co. Ltd. (BX), Bitkub Online Co. Ltd., Cash2coins Co. Ltd., Group Co. Ltd. (TDAX) and Coin Asset Co. Ltd. were able to operate as legal exchanges of cryptocurrencies. [19659002] In addition, the regulator approved two cryptocurrency dealers: Coins TH Co. Ltd. and Digital Coin Co. Ltd. (ThaiWM).

The move is part of a package of "transitional" rules regulating the encrypted companies operating in Thailand before the first tranche of regulations that came into force on May 14

As reported by Cointelegraph, these entities continue to serve customers while they apply and wait for a full license by notifying the Thai SEC within 90 days of the May expiration.

"In the announcement, the SEC is currently reviewing data from two other digital asset operators who have submitted an application under the transitional provisions," the statement continues.

Last week, the SEC also revealed a strong interest from potential initial money supply (ICO issuers requesting regulatory status in Thailand.

More than 50 projects were advanced, the regulator had already outlined the prerequisites necessary to be considered for approval In June, however, only five candidates had met these prerequisites.

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