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SEC unveils digital asset business operators allowed to continue business operations in line with transitional provisions



Wednesday 15 August 2018 | No. 89 / 2018


Bangkok, 15 August 2018 - SEC has revealed seven businesses who are permitted to continue their digital asset business operations, in line with the transitional provisions, during the consideration process by SEC until their applications are approved by or refused from Minister of Finance.

In pursuant to the Royal Decree on Digital Asset Businesses, B.E. 2561, which took effect on 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 businesses until an order to cease their businesses is given.

As of 14 August 2018, these seven existing businesses seeking operating licenses, in line with the transitional provisions, are allowed to operate their digital asset businesses.

Five of them are 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).

Two of them are 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).

In addition, SEC is reviewing information of two other digital asset business operators that have applied for operating licenses, in conformity with the transitional provisions, to ensure their digital asset business operations before 14 May 2018 and this information will be disclosed on SEC website: www.sec.or.th/digitalasset.

SEC Board will assess qualifications of these businesses mentioned above before forwarding their applications to Minister of Finance to issue operating license.

SEC Secretary-General Rapee Sucharitkul said “investing in digital assets comes with high risks. Those who are interested in investing must have knowledge and ability to take risks in investment losses. In a case of persuasion for investment, investors should examine persuaders on whether or not they are licensed as the digital asset business operators on SEC list. Those who are not listed and intend to operate digital asset businesses can request SEC for licenses and will be able to operate the businesses after receiving the licenses from Minister of Finance.”

If people have suspicion on investment in digital assets, please notify SEC at 1207.

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Building Confidence in the Capital Market
NEWS
Securities and Exchange Commission
Corporate Communication and Investor Service Department
Tel. (66)2033-9502-5 E-mail: press@sec.or.th
No. 89 / 2018 Wednesday 15 August 2018
SEC unveils digital asset business operators allowed to continue business operations in line with transitional provisions
Bangkok, 15 August 2018 - SEC has revealed seven businesses who are permitted to continue their digital asset business operations, in line with the transitional provisions, during the consideration process by SEC until their applications are approved by or refused from Minister of Finance.

In pursuant to the Royal Decree on Digital Asset Businesses, B.E. 2561, which took effect on 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 businesses until an order to cease their businesses is given.

As of 14 August 2018, these seven existing businesses seeking operating licenses, in line with the transitional provisions, are allowed to operate their digital asset businesses.

Five of them are 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).

Two of them are 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).

In addition, SEC is reviewing information of two other digital asset business operators that have applied for operating licenses, in conformity with the transitional provisions, to ensure their digital asset business operations before 14 May 2018 and this information will be disclosed on SEC website: www.sec.or.th/digitalasset.

SEC Board will assess qualifications of these businesses mentioned above before forwarding their applications to Minister of Finance to issue operating license.

SEC Secretary-General Rapee Sucharitkul said “investing in digital assets comes with high risks. Those who are interested in investing must have knowledge and ability to take risks in investment losses. In a case of persuasion for investment, investors should examine persuaders on whether or not they are licensed as the digital asset business operators on SEC list. Those who are not listed and intend to operate digital asset businesses can request SEC for licenses and will be able to operate the businesses after receiving the licenses from Minister of Finance.”

If people have suspicion on investment in digital assets, please notify SEC at 1207.

_____________________________