Thailand Finance Minister Pichai Chhhnhavagira, from the ruling Thai Pio Party, suggested an initiative to simplify the licensing process of securities and the trading of encrypted currency.
according to Local media reports dated January 31, 2025, The comments of the Thai Minister of Finance Chounahavagira follow the development of digital assets work to announce the strategy of the Supreme Council for Thai Education for the year 2025.
What will a unified license be accomplished?
Currently, the markets of securities and cryptocurrencies in Thailand are working under separate regulatory systems.
It is supervised by the trading of securities by the Securities and Exchange Committee (SEC), while the coded currency exchanges are subject to distinct licensing requirements.
The Minister of Finance’s proposal aims to integrate these systems in the framework of one license, which simplifies compliance with the market participants.
The unified license will cover both traditional securities and digital assets, including cryptocurrencies. This approach is expected to reduce bureaucratic obstacles, encourage innovation, and to place Thailand as a regional center for the development of financial technology (FINTECH).
Thailand was taking steps in the encryption and organization area.
Thailand is SEC making waves in the world of encryption!
Spot review #Bitcoin ETF approvals for retail investors and institutions.
Cracked on polymarket for illegal encryption.
Check … pic.twitter.com/PQJODZZXSO– Crypto Trennd (Cryptotrennd) January 15, 2025
Recently, the Thai government announced a pilot project on January 9, 2025, allowing tourists to make payments using Bitcoin and other digital currencies in Foucape, one of the most popular destinations in the country.
Chhuhavagira revealed the plan during a seminar hosted by the Marketing Association in Thailand.
Explore: This week in Crypto Asia: Thailand Bitcoin payments in tourism
The preachers of the former Thai Prime Minister propose to codify the encryption, and suggests the use of bitcoin to settle debts
The former Prime Minister in Thailand, Thaxin Xinwatra, recently optimistic about the encryption capabilities.
SHINAWATRA has paid the financial institutions in Thailand to be more open to the encrypted currency. Moreover, he cited the position of US President Donald Trump in favor.
According to local media reports, Thaksin suggested that Thailand should adopt global encryption trends, such as Bitcoin’s use to settle debts and provide a code of real world assets (RWA)-Blockchain digital symbols that represent concrete material assets.
He also revealed plans for the cryptocurrency sand project in Foucalet, where bitcoin transactions will be managed to reduce risks.
Explore: The former Prime Minister in Thailand to legalize encryption, suggests the use of bitcoin to settle debts
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