In Thailand there is a SEC Regulation that Regulates Cryptocurrency
Thai Securities and Exchange Commission (SEC) announced a new cryptocurrency law on June 8, 2018. This can be seen as a positive step to legalize cryptocurrency in Southeast Asian countries, unlike other countries such as nearby China that have banned the cryptocurrency trade activity.
The rules issued by the SEC came only a month after the Thai government decided that cryptocurrency was a digital asset and they had to be regulated, and they decided that the SEC would be responsible for cryptocurrency.
Read the full article at
https://bitcoinnews.com/thailands-sec-issues-cryptocurrency-rules/ Thai Bond Market Association to Incorporate Blockchain Technology
The association announced it’s pushing for a fintech platform using blockchain technology. The new registrar system will cut issuance times in more than half.
The Thai Bond Market Association (TBMA) plans to implement a new registrar service platform combining financial technology with blockchain technology. There are ongoing plans to put it to practice during the current year to improve the growth of the secondary market.
TBMA Wants To Issue New Bond Certificates in Two Days
President Tada Phutthitada of the TBMA wishes to apply to the regulatory sandbox by the end of the year to start the live experiments of the new platform under the regulators’ supervision. If they succeed, this will be the first fintech platform apply to both the Bank of Thailand and the country’s Securities and Exchange Commission (SEC).
While initially the platform is expected to start issuing bond certificates in 3-4 days — as opposed to the usual 7-15 days, — the ultimate goal is to reduce that time to two days. The new platform will eliminate the need for physical certificates, as the book entries will be sufficient to represent the holding and settlement of securities.
Phutthitada explained, “The faster bond certificate issuance allows bondholders to trade in the secondary market faster and reduces settlement risk for bond investors. If nothing is done to speed up bond certificate issuance, the growth of corporate bonds in the secondary market could be limited.”
https://www.ccn.com/thai-bond-market-association-to-incorporate-blockchain-technology/