Binance has made an agreement with Thai government officials, which might pave the way for the company to operate an office in the country.
After striking an agreement with Gulf Energy Development PCL, Binance is planning to re-establish crypto exchange services and maybe open a new branch in Thailand.
Gulf Energy Development PCL, led by billionaire Sarath Ratanavadi, is a Thai holding company specializing in the energy sector.
Gulf Energy is said to have reached an agreement with the world’s largest cryptocurrency exchange based on the firm belief that Thailand’s digital economy infrastructure will experience “rapid growth” in the coming years.
Gulf Energy, Binance, and the Thai government will work together to investigate Binance’s alternatives in the Thai market, which might include the establishment of an exchange and related businesses.
“Our goal is to collaborate with the Thai government, authorities, and innovative businesses to develop a crypto and blockchain ecosystem,” says the company”: A Binance representative
Greater regulatory clarity for digital asset trading is expected in Thailand’s digital economy. The Thai government’s Revenue Department director-general made regulatory transparency a top priority this month after unveiling a proposed 15 per cent capital gains tax on crypto trades on January 6.
That’s all happening between Binance and Thailand for now. Have a good day, reader.
