Thai financial regulator allows including cryptocurrency in asset valuations

The Thai Securities and Exchange Commission (SEC) has allowed local financial firms to account for the value of acquired cryptocurrency with a maximum discount of 50%, Bangkok Post reports.

This happened after the regulator revised the net capital rule. Discussions on this matter with stakeholders concluded on June 17, 2020.

It is expected that, thanks to the new rules, firms planning to launch platforms for trading cryptocurrencies or security tokens will unlock liquidity. The publication reports that a number of companies are in close dialogue with the SEC on this matter.

The new rules require digital asset enterprises to hold at least 1% of capital in cold wallets and 5% in hot wallets. The minimum capital for companies that do not plan to attract client funds to trade such assets should be over 500,000 baht (about $16,330).

Earlier, Thailand’s SEC certified the country’s first regulated portal for conducting initial coin offerings (ICOs).

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