Thailand’s Stock Exchange To Unveil A Digital Asset Exchange In 2022

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Thailand’s Stock Exchange is preparing to develop a crypto asset exchange as part of the country’s plan to embrace cryptocurrency while dishing out regulatory measures. Thai Securities and Exchange Commission, the nation’s crypto regulator, is expected to authorize the rollout “very soon,” as noted by the exchange leader.

The President of Thailand’s stock exchange, Pakorn Peetathawatchai, is considering producing a new virtual asset exchange that will be connected with the crypto market.

Thailand To Link Stock and Crypto Market

From earlier reports, the exchange commission first announced intentions to establish a trading platform for digital assets earlier in 2021, with a launch date for the second period of 2021. The firm reported at the time that its forthcoming platform would not include cryptocurrency, citing the justification:

“The exchange body claims that cryptos do not match its product criteria and may assist financial fraud while harming the bourse’s reputation as a “credible” exchange.”

In discussion with Bloomberg on Sunday, Peetathawatchai indicated that the SET plans to develop its crypto asset exchange market this year, with additional exposure opportunities such as utility and investment tokens. Although the SET’s planned exchange market for virtual assets would not be closely linked to crypto markets, the exchange platform will feature cryptos such as Bitcoin (BTC). 

Peetathawatchai hopes the launch will occur in Q2 or Q3 of 2022 after the regulatory has given the stock exchange permission. The stock exchange market will be linked to a crypto exchange, which will allow users to change their virtual assets into regular currency before they are traded on the Security Exchange of Thailand.

Peetathawatchai added, “The country’s strength has been investment vehicles or tools. Hence, the organization will search for a method to link to a virtual currency market that will be able to convert digital currency to regular money and then invest in the state’s conventional and digital assets.”

Comment Of The Executive On Possible Risk From Digital Assets

The executive stated that the country’s watchdog is currently educating users on the risk associated with using digital assets and how they can protect their investments.

Furthermore, the regulatory body has been working together with firms that would be providing cryptocurrency services in the nation to highlight the possible risks benefits for investors.

At the beginning of the month, the country had loosened its crypto tax regulations by removing the widely condemned 15% levy. Also, the Securities and Exchange Commission, the central bank, and the finance ministry all indicated in January that crypto would be regulated as a form of payment.


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