Stock Exchange of Thailand is about to Bring Crypto- Related Service Soon
Stock Exchange of Thailand plans to launch Crypto-Related Services for investors very soon.
SET is not intended to act as a Crypto Trading Platform and currently is a digital asset exchange.
Highlights
- SET is about to bring the crypto-related service in the third quarter of 2022.
- Stock Exchange of Thailand is not ready to act as a Crypto Trading Platform.
- It will allow the investors or users to invest in Cryptocurrency.
Read More: Cryptocurrency Ban 'Difficult To Implement' says Ashima Goyal Of India's Monetary Policy Committee
Stock Exchange of Thailand is about to accelerate its platform for the use of Cryptocurrency and it is planning to allow its users to invest in cryptocurrency by using its platform. The platform still has not received any approvals from the Thai Security and Exchange Commission (SEC), which works to regulate the crypto assets of the country. such developments in the Southeast Asian Country have been made when the crypto sector is going through a notable expansion.
A research firm also reveals the data about the crypto users and it found that about 3.6 million people are using the cryptocurrency whereas the total population of Thailand is 5.2 percent.
The platform of SET is about to begin the platform for the use of new service between July and September this year.
Pakron Peetathawatchai told in an interview “We expect that pour regulator, the SEC will approve very soon, and we hope that we can start operating in the second or the third quarter this year.”
The platform SET is not intending to use the platform as a crypto trading platform.
He further added
“Our strength has always been in the investment tools investment vehicles. We will look into a way to connect Crypto Exchanges to convert cryptocurrency flat money.”
It is focusing to bring only some special cryptocurrencies from the world that have been in high demand likeBitcoinand Ethereum.
Earlier this month Thailand scraped about 15 percent of the tax on holding crypto incomes after the decision are supported by the people.
Many countries have legitimized the cryptocurrency in their countries and some are still planning to legitimize it, India has raised the issue of this currency spreading root in Davos speech and it has already told about itsCrypto Billin its parliament. Nirmala Sitharaman in Budget Sessiontalked about the digital currency of India known as Digital Rupee will be regulated by CBDC.
