Thai stock exchange bars cryptocurrency trading

The Stock Exchange of Thailand (SET) has barred cryptocurrency trading on its digital-asset platform, The Bangkok Post reports.

SET will launch a new platform in the second half of 2021. The exchange will list products whose valuations investors will be able to perform themselves. Other asset criteria include sustaining economic activity and delivering ‘utility’ to society.

Executive Vice President Kitti Suttiatthasil stated that cryptocurrencies do not meet any of the listed criteria. In his view, such assets, like Bitcoin, facilitate money laundering and exhibit high volatility.

The Kasikorn Bank division will be responsible for sourcing and vetting products for the new market. The bank collaborates with SET on blockchain projects.

Earlier in November 2020, the Thai Securities and Exchange Commission allowed including cryptocurrency in asset valuation.

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