Coin As­set de­nied li­cence

Bangkok Post - - BUSINESS -

The Fi­nance Min­istry has de­nied an op­er­at­ing li­cence for a dig­i­tal as­set ex­change to Coin As­set Co, Ltd (coinas­set.co.th), say­ing the com­pany’s sys­tem does not meet the Se­cu­ri­ties and Ex­change Com­mis­sion’s (SEC) stan­dard. Three of the four direc­tors re­spon­si­ble for ma­jor sys­tems re­signed, and the com­pany’s main sys­tems in­clud­ing keep­ing cus­tomer as­sets and Know Your Cus­tomer (KYC) records do not meet stan­dards ac­cepted by the SEC, said an SEC state­ment. Fol­low­ing the re­jec­tion, Coin As­set is able to op­er­ate a dig­i­tal as­set ex­change busi­ness un­til Jan 21, it said. The min­istry has au­tho­rised op­er­at­ing li­cences for four dig­i­tal as­set busi­nesses, and de­nied li­cences for two firms seek­ing to be­come au­tho­rised ex­changes. The three busi­nesses ap­proved as au­tho­rised dig­i­tal as­set ex­changes are Bit­coin Co (bx.in.th), Bitkub On­line Co Ltd (bitkub.com) and Satang Cor­po­ra­tion Co Ltd (satang. pro), while Coins TH Co Ltd (coins.co.th) has been ap­proved as a li­censed bro­ker and dealer of cryp­tocur­ren­cies.

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