The Stock Exchange of Thailand is all set to launch a digital asset exchange. The president of the Thai bourse awaits the country’s crypto regulator and the Thai Securities and Exchange Commission (SEC), to authorize the launch at any moment. Pakorn Peetathawatchai, the president of SET, the Stock Exchange of Thailand explained that they except the Thai Securities and Exchange Commission (SEC) will authorize very soon. And they can start with the operation by the mid or by the end of 2022. The Thai Securities and Exchange Commission is accountable for licensing commodities expecting to deliver crypto aids.
The president of the Thai stock exchange clarified that for the digital asset exchange, they would focus on investment tokens and utility tokens as these are in ‘high demand’ in local as well as in global markets. He also said to use the tokens as a mode to boost funds. He also added that more than dealing with the trade of cryptocurrencies, it will focus on ghe investment methods. They will find a way to convert the digital currency to fiat money. The President of SEC, remarking on the risks from crypto-assets said that they are diligently working on these areas and looking forward to coming up with a law soon. Thailand lately loosened up its tax rules on crypto, discarding the heavily criticized 15 per cent withholding tax. Moreover, the central bank, Securities and Exchange Commission, and the Finance Ministry declared last month that they will legislate crypto as a mode of payment.
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