Thailand SEC Gives Licenses to New Japanese Exchange to Operate Four Crypto Businesses

Thailand SEC Gives Licenses to New Japanese Exchange to Operate Four Crypto Businesses

crypto business licences

According to a recent report, the government of Thailand has granted four licences to a new crypto exchange which is a subsidiary of a regulated Japanese exchange, Bitpoint.

Bitherb Receives Thai Sec licences

Based on a recent report, Remixpoint Inc. has made it known that it’s daughter company in Thailand, Bitherb Co. Ltd. has received four different crypto-related licences to carry out operations in the country. This was also posted on the Thai Securities and Exchange Commission’s (SEC) website. The Japanese corporation also controls Bitpoint Japan which is one of the 17 Japanese exchanges that are government approved.

Furthermore, these new licences will enable Bitherb to carry out their business operations legally as a crypto asset broker, a digital token broker, a crypto asset exchange, and a digital token exchange. Presently, it is the only company with the approval to function as a digital token broker in the country.

Bitherb is a crypto exchange and management company that was established through the coming together of both Asia Herb Association Bangkok Co. Ltd. and Bitpoint Japan with former owning 60.5552% of the new entity and the latter owning 39.4446%. Oda Genki has been selected to be the Officer in charge of Bitherb. Other countries in which Bitpoint operates includes Taiwan, Malaysia, Panama, and South Korea.

According to the Thai SEC’s website which consists of the lists of all the companies that have been given the approval to operate in Thailand, the country passed its crypto regulation bill in May and afterwards granted four companies that had been in business before the regulatory approval and two companies were disapproved.

Also, as of present, licences have been given to companies in five categories; digital token exchanges, crypto asset exchanges, crypto asset dealers, digital token brokers, and crypto asset brokers. The four companies that were granted licences to operate both crypto asset and digital token exchanges include Satang Corp. Co. Ltd., Bitcoin Co. Ltd., Bitmain Online Co. Ltd., and recently, Bitherb.

Bitherb Licenced To Operate As A Crypto Asset Broker

However, both Bitherb and Coins The.Co. Ltd. were granted licences to operate as a crypto asset broker. Only Coins Th. Co. Ltd. was granted the approval to function as a crypto asset dealer, while, only Bitherb has been approved as a digital token broker.