Thailand government has issued four licenses to a new crypto exchange
Japanese corporation Remixpoint Inc. announced on Thursday that its Thai subsidiary, Bitherb Co. Ltd., has obtained four different crypto-related licenses to operate in Thailand.
This information aligns with an announcement posted on the Thai Securities and Exchange Commission (SEC) website.
Bitherb is a cryptocurrency management and exchange company which was founded by both Asia Herb Association Bangkok Co. and Bitpoint Japan. Bitpoint Japan’s president, Oda Genki, is also an offer on the new Thai exchange.
Bitpoint has operations in other nations including Panama, Malaysia, Taiwan, South Korea, and Hong Kong.
By obtaining these new licenses, Bitherb can legally operate as a crypto asset exchange, a digital token exchange, a crypto asset broker, and a digital token broker.
Currently, it is the only company approved to operate as a digital token broker in the country.
This licenses distributed to companies have been given in five distinct categories: crypto asset dealers, crypto asset brokers, crypto asset exchanges, digital token exchanges, and digital token brokers.
Four businesses have received approval to do business as both digital token exchanges and crypto asset exchanges: Satang Corp. Co Ltd, Bitcoin Co. Ltd, Bitkub Online Co. Ltd, and now Bitherb.
Licenses to operate as a crypto asset broker have been granted to Coins Th. Co. Ltd. and Bitherb. Meanwhile, only Bitherb has been approved as a digital token broker and only Coins Th has been approved as a crypto asset dealer.
Last month, The Thai SEC Security-General has stated, “Digital assets are useful as funding tools…and as a medium of exchange.”
However, he was also quick to note that cryptocurrencies are a high-risk asset which is best suited for those with the understanding and knowledge of the technology. It is not for those looking to do general investing.