In pursuant to the Royal Decree on Digital Asset Businesses, B.E. 2561, which took effect since 14 May 2018, allows existing digital asset business operators who submit their requests to SEC within 90 days (within 14 August 2018) to continue their business until an order to discontinue their businesses is given. Earlier, SEC disclosed the names of seven digital asset business operators asking for the digital asset operating licenses.

SEC examined information of Southeast Asia Digital Exchange Co., Ltd. (SEADEX) and found that SEADEX has been operating a digital asset exchange before the royal decree came into force. SEADEX applied for an operating license before 14 August 2018 and that allowed SEADEX to continue its business operation according to the transitional provisions.

SEC is in the assessment process to evaluate the qualifications of the applicants seeking licenses to operate digital asset businesses. If an applicant is qualified, SEC will propose Minister of Finance to issue an operating license. Those who are interested to operate digital asset businesses can submit their request for licensing. SEC will consider qualifications according to the determined process. There is no limit on the number of operating licenses.

Presently, it has been found that those who have used digital assets to take advantages and deceive people on investment. SEC would like to ask the public to be cautious when being asked to trade digital assets. The public should examine whether the operator is on the list of SEC’s digital asset business applicants. SEC reiterates that SEC has not yet issued any permission for sale of digital tokens or initial coin offerings (ICOs). Those who have been persuaded for such investment, please inform the clues to SEC Help Center at 1207.

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Remark:

Eight businesses are allowed to operate digital asset businesses according to the transitional provisions (including SEADEX).

Six businesses seeking licenses to operate as digital asset exchanges:

(1) Bitcoin Co., Ltd. (BX / website: bx.in.th);

(2) Bitkub Online Co., Ltd. (BITKUB / website: bitkub.com);

(3) Cash2Coins Co., Ltd. (Cash2coin / website: cash2coins.com);

(4) Satang Corporation Co., Ltd. (TDAX / website: tdax.com);

(5) Coin Asset Co., Ltd. (Coin Asset / website: coinasset.co.th);

(6) Southeast Asia Digital Exchange Co., Ltd. (SEADEX / website: seadex.io).

Two businesses seeking licenses to operate as digital asset dealers:

(1) Coins TH Co., Ltd. (Coins TH / website: coins.co.th);

(2) Digital Coin Co., Ltd. (ThaiWM / website: thaiwm.com).

(Related news: SEC News Release No. 89/2018)