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ASCO is studying the possibility of establishing a joint crypto exchange

In Thailand, the Association of Securities Companies (ASCO) is studying the possibility of establishing a joint cryptocurrency exchange between securities companies and plans to apply for an operating licence with the Securities and Exchange Commission (SEC).

“Securities firms normally engage in the securities trading business, which is similar to digital asset trading, hence securities firms are ready to offer services and trading platforms to investors”, – said Pattera Dilokrungthirapop, chairwoman of ASCO.

Regarding a plan to apply for a crypto exchange license, at least a few securities firms will join together to obtain them to reduce operating costs and collaborate on sharing innovative technology, Mrs Pattera said.

She added that ASCO will also further consult with the SEC on potentially allowing securities firms to conduct more operations related to the digital asset business.