Thailand Government to Regulate Crypto

The regulatory framework for cryptocurrencies is expected to be finalized within a month
08 February 2018   1232

According to Thailand’s Finance Minister Apisak Tantivorawong, the government will not ban crypto trading because the regulators cannot stop the use of crypto in the country. However, it will develop the regulatory framework for digital currencies and ICOs.

During his speech at the “Thailand Takeoff 2018” seminar, Apisak Tantivorawong informed the audience that regulators cannot stop the use of virtual currencies but will have to regulate and control them in an appropriate manner.

In the near future, the Bank of Thailand (BOT), The Thai Securities and Exchange Commission (TSEC) and the Ministry of Finance, the Anti-Money Laundering (AML) Office will meet in order to have detailed discussion concerning this topic.

According to Apisak Tantivorawong, the TSEC is the best authority to take care of crypto. In his opinion, the TSEC is responsible for the oversight of securities. He believes that the Bank of Thailand is not the appropriate organization to oversee cryptocurrencies since they are not recognized as legal tender.

The government will also regulate ICOs. It will improve its financial technology sector in order to be able to regulate cryptocurrencies and ICOs.

tZERO to Launch Bitcoin Trading App

Application itself is being developed by Bitsy; it may also begin to support Ethereum in the future
22 March 2019   125

The security tokens platform tZERO announced plans to launch a mobile application for buying and selling bitcoin. In the future, the application may also begin to support Ethereum,  CoinDesk reports.

According to Saum Noursalehi, CEO of tZERO, applications for iOS and Android devices should be launched in June. Bitsy is developing it, a cryptocurrency start-up that is part of the portfolio of the Overstock venture division of Medici Ventures.

That’s part of the reason we acquired Bitsy — to accelerate time to market for our mobile app. They have an app for trading crypto, primarily bitcoin, in a beta-phase, they built a wallet and key recovery mechanism, and this will be the foundation of the mobile app for tZERO. They are also working on some cool stuff like biometric login. 

Saum Noursalehi

CEO, tZero

According to him, the application will allow you to store cryptocurrency without the need to trust third parties and it will be connected to the network of exchanges through the API. The implementation of this plan will occur through partner tZERO, the institutional trading platform SFox.

In the future, the head of tZERO added, the platform also intends to create its own cryptocurrency vault to meet the demand from users.

The public beta testing of Bitsy wallet started in November 2018. With his help, the Overstock retailer plans to launch Bitcoin sales on its website.