Regulators and banks in Thailand are slowly turning the screws on privately owned crypto exchanges operating within the Kingdom. Thai Digital Asset Exchange (TDAX) is the first to postpone registration and trading of new ICOs while it waits for a clearer regulatory framework from the Securities and Exchange Commission.
Bank Account Barred
The move comes just a few days after one of the country’s leading banks halted transactions involving trading of cryptocurrencies with the TDAX. Bangkok Bank is the first financial institution in Thailand to take such action. Their reasoning is that the exchange is not in compliance with its business purpose as registered with the Commerce Ministry.