Thailand Open for Business: 20 New Exchanges Aim to Establish Kingdom of Crypto

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Thailand’s forward-leaning crypto policy has catalyzed rapid blockchain platform development, with the Thai SEC receiving 20 applications for new digital asset exchanges and more than 50 applications for token offerings since launching new regulatory framework in July. The crypto regulation framework in Thailand, which came into effect July 16, has legalized domestic cryptocurrency markets following two royal decrees issued in May. According to a Finance Ministry announcement, the new crypto ecosystem will allow blockchain startups to launch token offerings and digital asset exchanges, provided they pass the screening process and code auditing. Thai Regulatory Shift Sparks Crypto Frenzy Rapee Sucharitakul, Secretary-General of the Thai Securities and Exchange Commission, said that the new cryptocurrency regulatory body has received a flood of applications from platforms eager to capitalize on the country’s new pro-crypto stance, according to the Bangkok Post. Sucharitakul also stated: “Licence approvals are being processed. Many companies interested in opening digital asset