The classical stock exchange companies of Thailand will create a crypto-trading platform

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The classical stock exchange companies of Thailand will create a crypto-trading platform
The classical stock exchange companies of Thailand will create a crypto-trading platform

In Thailand, the ongoing integration of the world of crypto-currencies into the traditional securities trading sector is evident: on the initiative of just such companies, which are united in the relevant association (ASCO), it is planned to launch a site where the trade in crypto-currencies will be conducted, according to Thailand’s leading business publication Bangkok Post.

The head of ASCO, Patter Dilokrungtirapop, said that the companies intend to unite in order to reduce the costs of the process of issuing a license to trade cryptocurrencies. This permission will need to be obtained in accordance with the new law “On the Regulation of Cryptomonets and ICO”, which entered into force on May 13 from the publication of the corresponding royal order. Until mid-August, all companies that directly or indirectly trade in crypto-currencies will have to undergo the process of obtaining a license to conduct such activities. Earlier in Thailand, they also decided on the taxation of income from the cryptocurrency trade: since April, such transactions are subject to a double tax – one in the form of VAT at a rate of 7%, and the other – a charge from the capital increase of 15%.

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ASCO does not hide the fact that they intend to “pull” more of the volume of the cryptocurrency trade in Thailand and become the most popular site in the country for holding the ICO, since they believe that the adopted legislation on cryptocurrencies and ICO in the country has completely made legal norms for conducting such activities.