Thailand’s Securities and Exchange Commission (Thai SEC) now allows firms dealing with digital assets to include the value of those assets when calculating their net capital funds.
It has been reported by The Bangkok Post that the new rules follow a surge in volume on Thai exchanges.
However, after the United States presidential election, the Stock Exchange of Thailand saw a one-day trading value hit $5.5 billion while futures contracts on the Thailand Futures Exchanges increased to 1 million per day.
The new rules aim to support the rising trading volumes by allowing securities and derivatives brokers to increase their liquidity management.
The Bangkok Post stated that the new regulations include a deduction based on the quality of the assets.
The report noted:
“The maximum amount calculable for digital assets to a firm’s [net capital] is 50% of the asset value.”
Likewise, the SEC also requires securities companies operating digital asset services to maintain more than 1% of customer digital assets in the cold wallets, and more than 5% of assets in online storage systems like hot wallets.
Thus, the Thai government has been amending local regulations in order to support the growing domestic crypto industry.
Source: Cointelegraph | Image: International Investment
Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.
Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.
We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.