Thailand Greenlights Seven Crypto Operators to Service Clients

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Seven cryptocurrency businesses were approved by Thai regulators, Aug. 16, to legally conduct digital asset operations as part of the country’s shift toward optimizing the local blockchain, ICO and cryptocurrency ecosystem. Thailand’s Cryptocurrency Push According to the Thai SEC, seven businesses are allowed to pursue their business as legally-recognized operators immediately. Among the businesses are several cryptocurrency exchanges–Bitcoin Company Ltd., Cash2Coins, Bitkub, Tdax and Coin Asset Exchange–and two OTC dealers– and ThaiWM. Earlier this year, on May 13, Thailand issued a royal decree that unveiled a series of “transitional” rules for the burgeoning, local cryptocurrency industry, which could arguably form a significant tax source. At the time, crypto businesses were allowed to serve customers during a 90-day period while awaiting their license application result. Today, the elaborate, 100-section law book classifies all cryptocurrencies as “digital assets and digital tokens,” and brings the asset class under the Thai legal framework. Previously, The Bangkok