The Thai Security and Exchange Commission (SEC) plans to monitor Bitcoin ETFs for six more months before adopting them in the Thai financial market. The country now does not allow Bitcoin (BTC) ETF asset management. Meanwhile, Binance has launched in Thailand with no hopes for expats to gain from the launch in the country. On the other hand, BlockDAG Coin (BDAG) might align with Thai financial regulators to help develop a profitable crypto landscape for Thailand investors, with its vision to reach $600 million in 2024.
Thai SEC Plans To Deep Monitor Bitcoin ETFs
Crypto Investors in Thailand are worried over the recent announcement of Bitcoin ETFs. The market was shocked when financial regulators in the country stated that Thailand was not ready to trade such products. The crypto-friendly environment was turned tense with the statement, followed by mixed reactions from the crypto enthusiasts.
A week after the announcement of the Bitcoin ETF, the Bangkok Post stated that the Thai Securities and Exchange Commission have no plans to allow asset management firms to introduce spot Bitcoin ETFs in Thailand. Thai SEC has other plans to make Thai investors trade within the local brokerages and exchanges. Adding to the statement, Financial regulators stated they would monitor the developments with Bitcoin ETF for at least six months and then see where it all leads.
Binance Launches in Thailand
Along with the denial of the Bitcoin ETF launch in Thailand, another event happened: the launch of Binance. Binance, in partnership with Gulf Innova, launched its long-due exchange in Thailand. However, the crypto exchange is only limited to Thai nationals rather than the large population of expats.
Users need a Thai national digital ID (NDID) for the KYC and Registration procedure. However, such IDs are not offered to foreigners living in the country. Moreover, further cementing the news, Binance TH customer support confirmed that after talking to the team, we are afraid expats can’t get Thai IDs. Hence, they won’t be able to benefit from the exchange.
BlockDAG Coin Sees Opportunity in Thai Market
While the Bitcoin ETF develops tension in Thailand, investors rely on the country’s crypto-friendly nature. BlockDAG might be able to benefit from the country’s recent events. How? BlockDAG operates on a model with an opportunity to give back to its community. As the financial regulators are worried about making local trade possible, BlockDAG allows its investors to earn through its multiple income streams.
Thai crypto investors can benefit from mining BDAG. BlockDAG allows earning 125 to 25,000 BDAG coins daily with its X-Series mining machines. All the models X1, X10, X30, and X100 allow users to earn BDAG daily based on their preferences. Not only this, but with the referral program, a referrer can earn 10% extra with each referee. The strong sense of community, combined with its vision to reach $600 million in 2024, can help Thai investors earn great profits in the long term.
Understanding Thailand’s Crypto-Friendly Market
Thai financial regulators state the country will not be entertaining any Bitcoin ETFs. Thailand will monitor these ETFs for six months and then come to a decision. Meanwhile, Binance has launched in Thailand with no support for foreigners living in the country. Simultaneously, aligning its goals with Thai financial regulators, BlockDAG aims to benefit Thai investors by opening its crypto-mining doors, further benefiting the community with its goal to attain $600 million in 2024.
Invest In BlockDAG’s $600 Vision And Earn From Its X-Series
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