The Bangkok Post reports that the Stock Exchange of Thailand (SET) is planning to apply for a digital asset operating license. If successful, the exchange plans to open a new exchange for the trading of cryptocurrencies.
Pattera Dilokrungthirapop, vice-chair of SET’s board of governors, believes the exchange will be able to gain an edge over other licensed cryptocurrency exchanges thanks to its large capital and reputation. She continued to explain:
“Securities firms are currently waiting for the SET to apply for a licence. For us, digital assets are expected to grow in the future as investors gain more understanding of this asset class.”
The Thai government has been actively involved in regulating both cryptocurrencies and ICOs, and has a much clearer legal framework in this area than most Western countries. In June last year, the country’s Securities and Exchange Commission greenlighted the trading of 7 cryptocurrencies on licensed platforms – BTC, ETH, XRP, BCH, XLM, LTC, and ETC.
ICOs that want to create new crypto assets have to complete a registration process. The country’s legal framework for ICOs recognizes three different types of crypto assets: utility tokens, cryptocurrency, and investment tokens.
The SET is not the only stock exchange with plans for cryptocurrency trading. Boerse Stuttgart, the second largest stock exchange in Germany, is working on a cryptocurrency exchange as well and plans to launch it in the first half of 2019.