The Bangkok Post reports that the Stock Exchange of Thailand (SET) plans to apply for a digital asset management license. If successful, the exchange plans to open a new exchange for the exchange of cryptocurrencies.
Pattera Dilokrungthirapop, vice president of the board of directors of SET, believes that the exchange will be able to gain an advantage over other cryptocurrency exchanges under license thanks to its great capital and reputation. He went on to explain:
"Stock companies are waiting for the SET to apply a license: for us, digital resources are expected to grow in the future, as investors gain more understanding of this asset class."
The Thai government has been actively involved in the regulation of cryptocurrencies and Ico and has a much clearer legal framework in this area than most Western countries. In June of last year, the country's Securities and Exchange Commission highlighted the trade of 7 cryptocurrencies on licensed platforms: BTC, ETH, XRP, BCH, XLM, LTC and ETC.
ICOs wishing to create new cryptographic resources must complete a registration process. The country's legal framework for ICO recognizes three different types of cryptographic resources: utility tokens, cryptocurrency and investment tokens.
SET is not the only stock exchange with plans for cryptocurrency trading. Boerse Stuttgart, the second largest stock exchange in Germany, is also working on a cryptocurrency exchange and plans to launch it in the first half of 2019.