The Thai Securities and Exchange Commission (SEC) has announced a list of four approved cryptocurrencies for use as basic tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details pairs in the country. Reportedly, the regulator considered such factors as adequate market liquidityLiquidity
– is a term that means the ability to sell any financial assets (below or above the market price). The term “liquidity” in Latin means “liquid”, “flowing”.Details and a well thought out decentralized system.
The SEC of Thailand on Thursday announced that Thailand now has four approved cryptocurrencies, which can legally be used to invest in the Initial coin offering (ICO) as the base trading pair against other cryptocurrencies.
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SEC reports: "Currently, there are four cryptocurrencies that can be used for basic trading pairs: BTC, ETH, XRP and XLM."
But the regulator also explains that coins are still not legal tender and cannot be used to pay off debts.
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Bangkok Post clarified that: "The main criteria for the four cryptocurrencies approved for use in the country, announced by the SEC, include sufficient market liquidity, a well-designed decentralized system, and the ability to use a trading pair with other cryptocurrencies."
Editor: Yuliya Soroka