Thailand has reportedly revised its net capital rules which help securities firms launch cryptocurrency exchanges. The country now has 15 licensed crypto service providers.
New Thai Rules and Crypto Exchanges
The Thai Securities and Exchange Commission (SEC) has revised its net capital (NC) rules which help securities companies provide crypto services, the Bangkok Post reported Wednesday.
“The revised NC rules are expected to help free up liquidity for securities firms that plan to enter new business such as open digital or cryptocurrency exchanges,” the publication conveyed, adding that some securities companies have consulted with the SEC to launch a cryptocurrency exchange.
Securities companies operating crypto businesses will be allowed to calculate the net capital funds with the value of these cryptocurrencies. “The maximum amount calculable for digital assets to a firm’s NC is 50% of the asset value,” the publication noted. The new rules will also count crypto assets as capital funds.
For securities companies that operate crypto businesses