Thailand Explores Bitcoin ETFs While Tightening Oversight On Polymarket | Bitcoinist.com

Thailand Explores Bitcoin ETFs While Tightening Oversight On Polymarket | Bitcoinist.com

Thailand is deepening its involvement within the crypto house by exploring the potential approval of Bitcoin (BTC) exchange-traded funds (ETFs). Concurrently, the nation is contemplating stricter scrutiny of the net betting platform Polymarket.

Thai SEC Mulling Bitcoin ETF Approval

In keeping with a current Bloomberg report, the Thai Securities and Trade Fee (SEC) is evaluating the itemizing of native Bitcoin ETFs as a part of efforts to bolster the nation’s native crypto economic system. This transfer aligns with a world pattern of accelerating acceptance and regulation of cryptocurrencies.

Thai SEC Secretary-Normal Pornanong Budsaratragoon highlighted the regulator’s intention to allow each people and establishments to spend money on locally-listed Bitcoin ETFs. She remarked:

Prefer it or not, now we have to maneuver together with extra adoption of cryptocurrenices worldwide. We’ve to adapt and be sure that our buyers have extra choices in crypto property with correct safety.

It’s value noting that in January 2024, the US monetary regulator authorised 11 spot Bitcoin ETFs. These ETFs have since amassed round $109 billion in complete internet property, showcasing their rising recognition amongst buyers.

In June 2024, the Thai SEC had already permitted One Asset Administration, a Thailand-based agency, to launch a fund-of-fund Bitcoin ETF. This product permits institutional buyers to realize publicity to Bitcoin ETFs listed abroad.

Different international locations within the area have expressed want to introduce their very own crypto ETFs. For example, each Japan and South Korea are mulling approval of crypto ETFs on account of rising international demand for the product.

Thailand To Tighten The Noose Round Polymarket

While Thailand is making strides to develop retail entry to crypto-based monetary merchandise, it stays vigilant to make sure that innovation doesn’t come on the expense of shopper security.

To that impact, Thailand’s Cybercrime Investigation Bureau (CIB) is contemplating a blanket ban on Polymarket, a blockchain-based betting platform. The CIB has accused Polymarket of working as an unlawful playing web site.

Supply: Polymarket

In a press briefing on January 14, the CIB said that banning Polymarket would shield the general public from the dangers related to on-line playing. Moreover, it might mitigate potential vulnerabilities that could possibly be exploited for illicit actions within the nation. Nevertheless, the bureau has not disclosed a particular timeline for implementing the ban.

If Thailand proceeds with this ban, it is going to observe within the footsteps of different international locations within the area. For instance, Singapore lately banned Polymarket on account of related issues.

Likewise, earlier this 12 months, a Taiwanese man was charged for utilizing Polymarket to put bets value roughly $500 on the result of the nation’s electoral outcomes. At press time, BTC trades at $99,275, up 3.4% up to now 24 hours.

bitcoin
BTC trades at $99,275 on the every day chart | Supply: BTCUSDT on TradingView.com

Featured Picture from Unsplash.com, Chart from TradingView.com

Supply hyperlink

bitcoin
Bitcoin (BTC) $ 96,062.74 0.76%
ethereum
Ethereum (ETH) $ 2,600.21 1.60%
tether
Tether (USDT) $ 1.00 0.00%
xrp
XRP (XRP) $ 2.35 3.77%
solana
Solana (SOL) $ 199.55 1.17%
bnb
BNB (BNB) $ 600.22 2.15%
usd-coin
USDC (USDC) $ 1.00 0.01%
dogecoin
Dogecoin (DOGE) $ 0.243761 4.06%
staked-ether
Lido Staked Ether (STETH) $ 2,589.95 1.87%
cardano
Cardano (ADA) $ 0.669933 4.25%
tron
TRON (TRX) $ 0.229354 1.07%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 95,790.67 0.85%
chainlink
Chainlink (LINK) $ 17.89 2.67%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,094.74 1.73%
avalanche-2
Avalanche (AVAX) $ 24.24 1.70%
the-open-network
Toncoin (TON) $ 3.78 0.64%
stellar
Stellar (XLM) $ 0.306829 7.03%
sui
Sui (SUI) $ 3.00 2.10%
leo-token
LEO Token (LEO) $ 9.86 0.34%
shiba-inu
Shiba Inu (SHIB) $ 0.000015 4.19%
hedera-hashgraph
Hedera (HBAR) $ 0.226395 3.76%
usds
USDS (USDS) $ 1.00 0.15%
litecoin
Litecoin (LTC) $ 109.17 3.14%
bitget-token
Bitget Token (BGB) $ 6.34 1.97%
hyperliquid
Hyperliquid (HYPE) $ 22.72 3.29%
weth
WETH (WETH) $ 2,599.19 1.57%
polkadot
Polkadot (DOT) $ 4.67 1.28%
bitcoin-cash
Bitcoin Cash (BCH) $ 319.47 1.04%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.04%
mantra-dao
MANTRA (OM) $ 6.11 0.06%
uniswap
Uniswap (UNI) $ 9.00 0.36%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,751.97 1.53%
ondo-finance
Ondo (ONDO) $ 1.31 4.41%
monero
Monero (XMR) $ 221.24 2.91%
whitebit
WhiteBIT Coin (WBT) $ 27.32 0.32%
pepe
Pepe (PEPE) $ 0.000009 2.89%
near
NEAR Protocol (NEAR) $ 3.10 6.41%
aave
Aave (AAVE) $ 238.07 2.08%
dai
Dai (DAI) $ 1.00 0.01%
mantle
Mantle (MNT) $ 1.01 4.68%
aptos
Aptos (APT) $ 5.78 1.17%
internet-computer
Internet Computer (ICP) $ 6.83 1.95%
susds
sUSDS (SUSDS) $ 1.04 0.23%
ethereum-classic
Ethereum Classic (ETC) $ 19.88 1.32%
official-trump
Official Trump (TRUMP) $ 15.01 13.80%
bittensor
Bittensor (TAO) $ 359.39 0.40%
okb
OKB (OKB) $ 47.18 1.81%
gatechain-token
Gate (GT) $ 21.19 0.47%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.297881 4.17%
vechain
VeChain (VET) $ 0.031224 5.39%
crypto-com-chain
Cronos (CRO) $ 0.091328 3.85%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 96,077.74 0.64%
algorand
Algorand (ALGO) $ 0.27182 2.07%
tokenize-xchange
Tokenize Xchange (TKX) $ 28.06 1.26%
kaspa
Kaspa (KAS) $ 0.085127 2.15%
render-token
Render (RENDER) $ 4.18 2.32%
jupiter-exchange-solana
Jupiter (JUP) $ 0.811142 4.65%
first-digital-usd
First Digital USD (FDUSD) $ 1.00 0.16%
filecoin
Filecoin (FIL) $ 3.24 2.16%
cosmos
Cosmos Hub (ATOM) $ 4.47 1.88%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 0.749674 1.91%
arbitrum
Arbitrum (ARB) $ 0.441194 2.83%
lombard-staked-btc
Lombard Staked BTC (LBTC) $ 95,345.55 1.59%
fasttoken
Fasttoken (FTN) $ 3.94 0.28%
celestia
Celestia (TIA) $ 3.06 0.43%
binance-staked-sol
Binance Staked SOL (BNSOL) $ 205.95 1.11%
binance-peg-weth
Binance-Peg WETH (WETH) $ 2,592.52 1.82%
kelp-dao-restaked-eth
Kelp DAO Restaked ETH (RSETH) $ 2,692.11 1.49%
solv-btc
Solv Protocol SolvBTC (SOLVBTC) $ 95,649.63 0.83%
ethena
Ethena (ENA) $ 0.473607 8.12%
kucoin-shares
KuCoin (KCS) $ 12.08 0.69%
optimism
Optimism (OP) $ 1.06 0.80%
xdce-crowd-sale
XDC Network (XDC) $ 0.090221 0.04%
immutable-x
Immutable (IMX) $ 0.792791 1.83%
blockstack
Stacks (STX) $ 0.880609 0.83%
injective-protocol
Injective (INJ) $ 13.62 1.60%
raydium
Raydium (RAY) $ 4.57 9.93%
lido-dao
Lido DAO (LDO) $ 1.48 3.42%
rocket-pool-eth
Rocket Pool ETH (RETH) $ 2,918.92 1.38%
bonk
Bonk (BONK) $ 0.000017 5.59%
nexo
NEXO (NEXO) $ 1.29 2.56%
sonic-3
Sonic (prev. FTM) (S) $ 0.400881 1.19%
theta-token
Theta Network (THETA) $ 1.25 5.86%
quant-network
Quant (QNT) $ 85.20 1.86%
mantle-staked-ether
Mantle Staked Ether (METH) $ 2,745.38 1.67%
flare-networks
Flare (FLR) $ 0.021032 2.59%
the-graph
The Graph (GRT) $ 0.129378 1.09%
movement
Movement (MOVE) $ 0.504311 10.01%
worldcoin-wld
Worldcoin (WLD) $ 1.19 4.70%
usual-usd
Usual USD (USD0) $ 0.998391 0.05%
dexe
DeXe (DEXE) $ 19.20 10.36%
jasmycoin
JasmyCoin (JASMY) $ 0.021902 1.59%
solv-protocol-solvbtc-bbn
Solv Protocol SolvBTC.BBN (SOLVBTC.BB) $ 95,084.48 0.07%
msol
Marinade Staked SOL (MSOL) $ 251.96 1.43%
sei-network
Sei (SEI) $ 0.219302 2.98%
gala
GALA (GALA) $ 0.021335 2.95%
the-sandbox
The Sandbox (SAND) $ 0.367101 5.31%
eos
EOS (EOS) $ 0.592102 2.39%
tezos
Tezos (XTZ) $ 0.860106 2.61%
floki
FLOKI (FLOKI) $ 0.000091 1.69%
Scroll to Top