Musiccosmos

Thai regulators announced Thursday, August 16, that they have so far approved seven business entities to conduct cryptocurrency operations as part of the formalization of the country’s domestic market. In a statement , Thailand’s Securities and Exchange Commission (Thai SEC) confirmed Bitcoin Co. Ltd. (BX), Bitkub Online Co. Ltd., Cash2coins Co. Ltd., Group Co. Ltd. (TDAX), and Coin Asset Co. Ltd. were able to operate as legal cryptocurrency exchanges. In addition, the regulator approved two cryptocurrency dealers: Coins TH Co. Ltd. and Digital Coin Co. Ltd. (ThaiWM). The move forms part of a package of “transitional” rules governing crypto businesses operating in Thailand prior to the first tranche of regulations that came into force May 14. As Cointelegraph reported , those entities continue serving customers while applying and waiting for a full license by notifying the Thai SEC within 90 days of the May deadline. “In addition, the SEC is currently reviewing the data of tw...

A 22-year-old cryptocurrency millionaire has lost more than 5,500 bitcoins in an alleged investment scam in Thailand – one that drew public attention due to the alleged involvement of a Thai film actor. According to a media report from Bangkok Post on Monday, a group approached and solicited Finnish businessman Aarni Otava Saarimaa in June 2017 over investment in several Thai stocks, a casino in Macau and a new cryptocurrency called Dragon Coin. The group claimed that upon issuance, Dragon Coin could be used at the casino, the report said. They also brought Saarimaa to the Macau casino in order to demonstrate the legitimacy of the project. Saarimaa, who bought into the scheme, transferred a total of 5,564 bitcoins to the group, the report indicted. Having seen no returns months after the investment, Saarimaa filed a complaint to Thailand’s Crime Suppression Division (CSD) in January, together with his local business partner who believed the investment plan was a scam. The CS...