Thailand approved new exchange of cryptocurrencies
According to information from the country's Securities and Exchange Commission, Seadex is the sixth legal cryptographic market in opperation
Thailand currently has six cryptocurrency exchanges, after the Securities and Exchange Commission of the country approved the operation of South East Asia Digital Exchange Co. Ltd. (Seadex) in early September.
The firm obtained the approval to operate legally in the country. Meanwhile, the government studies the possibility of keeping its own wallet to confiscate cryptocurrencies from sources considered illegal.
With this measure they would try to curb crimes such as money laundering, fraud, scams to investors and theft of assets through various digital platforms. This would be achieved through the Anti-Money Laundering Office.
Thus, Seadex becomes the sixth digital currency exchange in the Thai market crypto after approval by the main regulator which determined that the firm operated since May.
Regarding the legal framework in the country, there is currently no law that allows the agency to freeze or seize digital currency. As a result, the Thai authorities are free to arrest the cybercriminals, confiscate their physical assets, even though they can not touch their digital assets.
M.Pino
Source: Infocoin
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