While the initial growth in crypto came mostly from the Western and European regions of the world, Eastern region is catching on pretty quickly as well. In fact, the stock exchange of Thailand has recently announced its intention of launching a digital asset exchange.
President of the Stock Exchange of Thailand (SET), Dr. Pakorn Peetathawatchai talked about this in an interview with Bloomberg, saying:
“We expect that our regulator, the SEC, will give an approval very soon, and we hope that we can start operation in the second or third quarter this year.”
Thailand’s Securities and Exchange Commission (SEC) provides licenses to entities that want to offer crypto services. All the crypto exchanges in the country request licenses from the SEC.
Dr. Pakorn also talked in detail about the prospects about their upcoming exchange:
“For our digital asset exchange, we would concentrate on investment tokens and utility tokens — those are the things that have been in high demand in both local and international markets.”
In addition to this, he said:
“Investors would like to invest in some of these digital assets and use either investment tokens or utility tokens as a means to raise funds.”
When asked whether the SET will offer to trade crypto, he declined the possibility. Following that, he said that they’re majorly focusing on “investment tools and vehicles”.
On the subject of risks from crypto-assets, Dr. Pakorn said:
“At the moment, both the Bank of Thailand and the SEC have been working together to look into these areas … and I certainly think that they will come up with a law … in the future.”