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Thailand Securities and Exchange Commission (SEC) have given the go ahead for the approved trading and ICO participation through the use of four cryptocurrencies. The four cryptos include Bitcoin (BTC) , Ethereum (ETH) ,Ripple (XRP) and Stellar (XLM).
The SEC approved the four cryptocurrencies based on factors such as sufficient market liquidity and a well-designed decentralized system, according to the Bangkok Post
Read more: Four crypto exchanges receive SEC regulatory approval in Thailand
The SEC announced the decision to approve the four cryptocurrencies as trading pairs in the country but made it aware that "approval does not make these coins legal tender that can be used to pay off debts."
The updated list also sees the removal of three cryptocurrencies, Bitcoin cash (BCH), ethereum classic (ETC) and litecoin (LTC) have been removed from the list of accepted cryptocurrencies, according to the SEC.
The list sees an update from the June 2018 list. Currently there are three regulated exchanges in Thailand. Thailand has seen a strict enforcement of cryptocurrencies in the country in order to prevent their citizens from falling prey to ICOs and crypto scams.
Binance CEO Changpeng Zhao commented on the recent news stating "way to go, waiting for them to get to 10. It's spreading."
The obvious number there being number 10, is currently where Binance Coin (BNB) ranks according to Coin Market Cap. Perhaps in the future we will see Thai SEC Approve BNB for trading in Thailand.
way to go, waiting for them to get to 10.
— CZ Binance (@cz_binance) March 1, 2019
It's spreading. https://t.co/0pjmNbLT3S