South East Asia has a varied stance pertaining to crypto exchange trading regulations. In fact, all around the world, the state of crypto regulations is dynamic but sounds very chaotic. For instance, East Asian regulators are going berserk over it with the Chinese being totally averse to cryptocurrency and obsessing over Blockchain instead. Koreans on the other hand, seem to be still in confusion and the Japanese have figured out some neat tricks to regulate cryptocurrency.
The Security and Exchange Commission (SEC) of Thailand shared an interesting announcement in June, according to which it decided to approve at least five Initial Coin Offerings (ICOs) out of 50. The commission had stated that for this purpose, it will prefer projects with commercial attributes and which can be easily checked.
Later, the Thailand SEC had stated that crypto exchange trading rules and regulations pertaining to digital asset investment and transactions could be eased. However, that would depend on whether the market participants are more educated on digital asset investment and if the domestic competition is at par with other virtual asset markets of the world. Initially, the Indonesian Bank also tried to impose a crackdown on cryptocurrency. But it turned out to be ineffective and later via the executive government in Jakarta, cryptocurrencies managed to gain recognition. Presently, the Indonesian government is working on additional regulations for crypto exchanges.
South Korea-based exchange Upbit, as part of its global expansion plans, has started marketing new crypto exchanges in Thailand and Indonesia. Over 240 trading pairs and 130 coins will be offered on both these new Upbit exchanges, as reported on Bitcoin News. Upbit has recently launched a cryptocurrency exchange in Singapore.
Singapore has a more liberal stance on crypto exchange trading regulations. Cryptocurrency payments and trading are both legal in the country and it does not even impose any major regulatory requirements, as reported on Koinalert. While the government’s attitude is quite relaxed in terms of crypto regulation, crypto trading, however, is taxed in Singapore.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]