The Thailand Stock Exchange, whose authorities were recently unfriendly towards cryptocurrencies, is creating a separate platform for investing in digital assets.
The Thai Digital Asset Exchange (TDX) is being created amid a recent pledge by the kingdom’s authorities to introduce a 15% tax on cryptocurrency income.
The state platform for investing in digital currencies is planned to be launched in the third quarter of 2022. Local media reports that such a move should “meet the needs of budding crypto investors and improve the digital infrastructure in general.”
It is not yet clear if TDX will allow trading in decentralized cryptocurrencies or just tokenized Thai securities. It is expected that by the end of January, the Central Bank of Thailand will publish a report in which it will elaborate on its plans.
In December, the Central Bank of Thailand demanded that banks stop using cryptocurrencies, since volatility in the digital asset market “directly affects the economic situation in the country.” Over the past year, the volume of cryptocurrency trading in the country has grown by about 40%, citizens have opened 1.6 million new trading accounts.
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