If you are trying to keep up with the news about financial changes, then you probably heard about the new licensing system that is designed for cryptocurrencies. That’s right, cryptocurrencies are becoming a big thing and if you are not up to date with the latest changes, you can easily get confused. Because of these sudden changes about the licensing system, some of the biggest companies from Thailand have applied for to operate with domestic crypto exchanges. Thailand’s Securities and Exchange Commission has revealed this to the public, we don’t know the accurate number of these companies that have submitted the application for these licenses, but it is estimated to be around 20.
Even if that isn’t correct, we can say with confidence there are more than 10 large companies that are quite influential who have applied. They also confirmed that these submissions are being processed at this moment and they added that the main reason why these companies applied was that the Thai market for crypto trading is quite active. Many companies see that the market is active, and they just want a piece of it while it is still hot. You definitely don’t want to miss out a chance like this if you have a company located in Thailand.
Regulatory Framework
As you might know, the regulatory framework was actually activated just a month ago in July. With this activation, the SEC became the world’s first securities market regulators that are recognizing these cryptocurrencies as a way of fundraising. What this means for the ICO users in this country is that they can now use seven coins to make payments. Here is a list of all those seven coins that they can use to make payments: Bitcoin, Ethereum, Bit-Cash, Ripple, Eth-Classic, Litecoin, and Stellar. If you are into cryptocurrencies, then you already know about all of these coins because they are considered to be one of the most popular ones in the world. Of course, there are some other ones that are popular, but they are still not on this list.
Increased Popularity
One of the things that we can say for sure is that having 10 or even more of these companies apply for this license is going to make a huge change in the financial world. What cryptocurrencies need desperately is exactly this in order to become more and more popular around the world. There are just not enough companies that show interest in crypto and that’s why we don’t see it becoming the next big thing. Once few big companies like this make a move, we can definitely expect to see other people taking interest in crypto.
