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Chinese exchange Zb.com has set up a branch in Thailand

Zb.com, Chinese cryptocurrency exchange and wallet provider has announced that it has set up a full-fledged branch in Thailand, called Zbthailand (Zbth), with the aim for it to become the regional crypto trading hub in Southeast Asia.

Currently Zb.com has a presence in China, the US, Canada, Switzerland, Australia, and South Korea. It also has over 3 million customers at the moment.

«The company plans to expand its digital currency trading platform in Thailand…in addition to providing knowledge and understanding of blockchain technology and investment in digital assets to Thai investors, including recruiting strategic partners to attract more foreign investors to invest in Thailand», – said Dawei Li, the exchange’s co-founder.

The new exchange offers the trading of 16 cryptocurrencies against the Thai baht, Bitcoin (BTC), and Ethereum (ETH). The supported cryptocurrencies are BTC, LTC, BCH, ETH, ETC, EOS, QTUM, NEO, SNT, AE, ICX, ZRX, EDO, FUN, MANA, and TZB. According to the new exchange’s website, all transactions fees are 0,1%.

The decree to regulate cryptocurrencies and initial coin offerings (ICOs) came into effect in Thailand on May 14 and appointed the Thai Securities and Exchange Commission (SEC) to be responsible for the regulation. Sellers and operators of crypto assets must register with the SEC within 90 days. The last day for registration is August 14.

The Commission is expected to issue the regulations by the end of June after holding a public hearing. According to SEC secretary-general Rapee Sucharitakul, the public hearing will take approximately 2-3 weeks «because investments in digital tokens are complicated and carry high risks».