Bank of Laos Grants First Licences to Local Bitcoin Exchanges

The central bank of Laos has allowed Lao Digital Assets Exchange (LDX) and Bitqik to operate as regulated cryptocurrency platforms. The licences cover the full spectrum of broker-dealer and trading services involving digital assets, Laotian Times reports.

Both platforms are expected to launch the full product range in April.

According to the central bank governor Sonexay Sitphaxay, to create the regulatory framework for cryptocurrencies, regulator staff consulted with the business community, stakeholders and government agencies.

The central bank will begin supervising the two platforms to ensure investor protection and to refine the developed norms.

In November 2021 Laos introduced rules for regulating digital assets.

Earlier, authorities in Laos legalised mining and trading of cryptocurrencies.

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