Thailand has banned Bitcoin Cash, Classic Ethereum, Litecoin☝

Thailand has banned Bitcoin Cash, Classic Ethereum, Litecoin☝

The Commission on securities and exchange Commission (SEC) of Thailand has banned the use of cryptocurrency Bitcoin Cash (BCH), Ethereum Classic (ETC) and Litecoin (LTC) as a means of payment for the purchase of tokens during the ICO. In addition, the crypto currency exchange no longer have the right to establish a trading pair with these digital assets as the base.

The Commission's decision to ban three virtual currencies had no impact on the market: at the moment in the country there is no ICOand the local of the crypto currency exchange does not use BCH ETC or LTC as the base currency. To determine which digital assets are subject to the ban, officials took into account several parameters:

  • The liquidity of the market.
  • The performance of the blockchain.
  • The number of trading pairs.
  • The development of the project.

SEC approved 4 cryptocurrencythat you can use in the course of the ICO as a base of digital assets on the stock exchanges:

Thailand is very fast has a leading position in the cryptocurrency market in Southeast Asia. Primarily this is due to the creation of a legislative framework governing the circulation of digital assets. In July 2018, the government adopted the law on the ICO, and in April last year, the Ministry of Finance introduced a uniform tax rate on profits from cryptocurrency investment - 15%.

Business representatives interested in the market of virtual currencies. Stock exchange of Thailand (SET) in January of 2019 announced its plans to submit an application to the Ministry of finthe Parallels to receive licenses to trade in digital assets. According to CCN, the company plans to launch a cryptocurrency trading this year. The Chairman of the Board of Directors SET the Putter Diagramtype said that many Thai firms, securities dealers, want to get a brokerage license to trade in virtual currency, so the development of kryptonyte in Thailand will largely depend on the decision of the SEC on applications for a license.

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