The curious case of Binance bangkokpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bangkokpost.com Daily Mail and Mail on Sunday newspapers.
Brooker s share price surges by 60%
published : 15 May 2021 at 04:00
2
SET-listed Brooker Group s (BROOK) share price rallied 60% after the company reported to the Stock Exchange of Thailand (SET) on Tuesday it invested US$6.6 million (207 million baht) in bitcoin in the first quarter.
Brooker s share price continues to surge despite Covid-19 cases rising and fears of higher global interest rates to curb inflation after the US reported a rate of 4.2% for April on Wednesday, which was higher than expected.
Brooker Group is the first Thai-listed firm to report investments in cryptocurrency. At the end of the first quarter, the company reported it had purchased 122.3158 units of bitcoin at an aggregate value of roughly $6.6 million.
ID check required for new crypto accounts
3 Dip-chip machine to be used from September
published : 3 May 2021 at 04:30
3
Opening of new cryptocurrency accounts may slow in the second half of this year as the Anti-Money Laundering Office (Amlo) announced local digital exchanges must verify their customers identities through a dip-chip machine that requires clients to be physically present.
The dip-chip requirement comes into effect in September, said Poramin Insom, co-founder and director of Satang Corp.
As of April 26, there were 697,780 cryptocurrency accounts nationwide, a surge from 160,000 at the end of last year. Most digital asset exchanges are still busy preparing their systems to accommodate the growing number of clients as new account applications continue to flow in. However, this growth may be curbed if the application process becomes more complicated, said Mr Poramin.
Thailandâs New Cryptocurrency Regulation Requires Users to Be Physically Present to Open Accounts
The Thai government has reportedly imposed a new cryptocurrency requirement. Crypto exchanges will be required to verify users’ identities using a machine that requires the customers to be physically present.
Thailand’s New Crypto Rules
The Thai Anti-Money Laundering Office (Amlo) has announced that starting in July “local digital exchanges must verify their customers’ identities through a ‘dip-chip’ machine that requires clients to be physically present,” the Bangkok Post reported.
Currently, the account opening process at crypto exchanges is done entirely online. To approve a new account, exchanges must ensure that the documents submitted by customers comply with the regulations set by the Thai Securities and Exchange Commission (SEC) for the know-your-customer (KYC) process and suitability test.