Thailand sets new regulations, while OKEx becomes a leader
Big changes, OKEx scores the highest daily trading value, LG introduced its new blockchain based project. In same time, Thailand sets new regulations for cryptos via royal decree.
New leader in cryptocurrency exchange platform daily trading value
The fight of the giants, in the last few days OKEx overtook current trading value cryptocurrency exchange platform Binance. The current daily trading value of OKEx reached over $2 bln in trades, thanks to that Malta-based cryptocurrency surpassed Binance which had been on 1st place since January.
Lee said it had been the “greatest pleasure and an honor” to have worked at the exchange.
LG blockchain project
According to Yonhap News Agency, South Korean company LG CNS, which supplies IT services, has launched its own service based on blockchain. The new project – “Monachain” has been created to provide digital authentication system similar to cryptocurrencies. Platform “Monachain” has been designed to enable blockchain-based logistics in the fields of finance.
“Even further, Monachain can help business owners boost productivity as the company provides a digital supply chain management system that enables suppliers to manage the entire production processing efficiently.” – LG CNS spokesman
New Thai Regulations
According to the Bangkok post, the 100-section law has been published in the Thai’s Royal Gazette. Cryptocurrencies have been defined as “digital assets and digital tokens”, also jurisdictions of cryptocurrencies is now in hands of the Thai Security Exchange Commission (SEC).
According to Thai Finance Minister Apisak Tantivorawong, the new regulations are not created to prohibit digital assets and ICOs.
From now on, sellers of cryptos must register with the SEC within 90 days, failure to do so can end up with penalty of up to twice the value of the unauthorized transaction.
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