Thailand has joined Japan in regulating crypto exchanges after it issued its first licenses to four applicants.
The four that were approved as licensed brokers and dealers of cryptocurrencies in the country are Bx, Bitkub, Coins and Satang Pro. One other exchange — Coin Asset — is under extended review after replacing its management team in a bid to win a license.
But two that failed to win a license — Cash2Coins and Southeast Asia Digital Exchange — will shut down this month. They have until January 14 to notify their customers and move any assets outside of their exchanges. The companies were rejected on account of insufficient know your customer (KYC) processes and inadequate IT infrastructure, according to an announcement.
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