Thailand’s Plan of tightening crypto regulations have caused major setback to retail investors and digital asset enthusiasts. Adding to this, several companies have received a major blow due to this decision. Increased supervision on digital assets comes after the industry witnessed major sell-off over the last couple of months.
The Securities & Exchange Commission is planning to make changes to the existing regulations which were put in place in the year 2018. Crypto asset platforms will soon face tighter regulations in Thailand.
Most of the focus shall be directed towards safeguarding the interests of small investors who have invested a large sum of their savings in crypto.
The oldest remaining and largest cryptocurrency exchange in Europe, Bitstamp, announced on Monday that it has been acquired by Belgium-based investment company NXMH, a subsidiary of South Korea-based NXC Corp.
The leadership of Coincheck exchange has reportedly accepted on Thursday the acquisition bid by Japanese financial services firm Monex Group (Tokyo Stock Exchange: 8698). The final details are still being worked out between the two sides but the exchange is expected get a cash injection of 3.6 billion yen ($ 33.6 million).