Earlier this week, ministers from the world's top economies, the G7, called for greater speed as financial watchdogs introduce comprehensive crypto regulation. This comes shortly after Terra's demise saw several crypto users suffer considerable losses in the space of a week. G7 Contacts FSB to Hurry Things Up The stablecoin failed to maintain its dollar peg and crashed as low as $0.07, with sister token LUNA not far behind. This created a ripple effect as general market anxiety destabilized even…
Tag: Thailand
Bank Of Thailand Draws Lines For Crypto Industry
The Bank of Thailand will soon outline specific rules for the crypto industry to protect investors and the financial system. They will arrive in the form of a consultation on the “Financial Landscape” from the nation’s central bank next month. Thailand’s Rules On Crypto Central Bank Governor Sethaput Suthiwartnarueput explained the objectives of the forthcoming paper in an interview with Bloomberg on Monday. He said it would look for consensus regarding the “red lines” for the green finance and digital…
5 months ago 213
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Thailand Regulatory Body Bars Bitkub From Registering New Customers
Thailand Securities and Exchange Commission has directed crypto exchange Bitkub to stop accepting new customers on their platforms. This directive comes after the exchange shut down temporarily in January due to the influx of new customers on its platform. Regulatory Demands Not Met By BitKub Bitkub acknowledged the directive from the regulatory body and revealed in a statement that it would suspend the registration of new users. The development comes after the exchange suffered a major technical problem in January.…
1 year ago 229
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Thailand Set To Open Its Digital Asset Exchange Excluding Cryptocurrency
Later on this year, Thailand's Stock Exchange, SET, plans to set up a digital asset trading platform that won't involve cryptocurrency trading. The forum will allow both individual and institutional trading of every type of digital token, except crypto. According to SET, the reason behind the removal of cryptocurrency is the uncertainty of how to curb money laundering. SET previously announced that the exchange will use blockchain technology for payment services. The technology will be provided by Kasikorn Business-Technology Group,…
1 year ago 234
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Hong Kong and Thailand to Pilot CBDC Project for Cross-border Payments
Cross-border CBDC payments could soon be a reality. This follows the announcement by The central banks of Hong Kong and Thailand that they were on the cusp of jointly implementing a similar payments system. In an official communique released on 22 January, the two banks disclosed the results of Project Inthanon-Lionrock, a CBDC research project the two are cooperating in. The banks issued a joint press release and availed a 90-page report detailing the pros and cons of CBDC on…
2 years ago 200
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