Mrs. Rung Mallikamas, Assistant Governor Financial Institution Policy Group The Bank of Thailand (BOT) revealed that in the case of Siam Commercial Bank (SCB) investing in BITKUB Capital Group, it must consider whether it exceeds 3% of the capital fund according to the new rules of the BOT or not, but if it exceeds 3 % can also be done through Holding SCB X in excess of 3%, but this may result in a decrease in capital. If this is the approach, the bank may have to increase the capital as well or not. However, it is normal to expand investments that need to increase capital. However, it is understood that SCB is in the process of considering whether such investments will be different from those previously announced or not.
The Bank of Thailand will issue regulations for commercial banks involved in digital assets that have been licensed by regulators, such as digital asset exchanges. or exchanges, brokers and dealers, etc., including useful digital asset businesses and the risks are still unclear and was tested in the sandbox of The Bank of Thailand will be able to invest in this digital asset business not more than 3% of the commercial bank group’s capital. Previously unable to allow investment The guidelines are expected to be issued and effective in mid-’65.
However, if the financial business group of commercial banks can have a risk management approach can take care of both good governance system risk and can protect service users It will allow to unlock the investment ceiling of 3% and give the commercial banking group. Not linked to commercial banks can operate In order not to affect depositors and the financial system, the Bank of Thailand does not allow commercial banks to directly interfere in digital asset business. and the financial business of commercial banks must have a director structure that does not conflict with interests have sufficient capital to cover risks and separating risky businesses from commercial banks
Ms. Rung said that the guidelines for supervision of the financial business group of commercial banks in the past to be indirectly related to the digital asset business but must first consult with the Bank of Thailand, for example, requesting the Securities and Exchange Commission (SEC) to issue a license to offer digital tokens (ICO Portal) to become a broker or digital asset exchange. etc., which must not affect the risk of public deposits without allowing commercial banks to directly interfere
In addition, commercial banks are not allowed Commercial banking business groups offer digital assets or stimulate broad customer interest, such as offering to bank customers through branches, websites, applications, and requesting consent from customers is not allowed. have good governance Must protect the deposit in full no conflict of interest Must have sufficient capital to cover risks and IT systems must be clearly separated from the system related to commercial banks to protect deposits which must be sufficient to accommodate risks and support new business models
By InfoQuest News Agency (24 Mar. 65)
Tags: Bitkub, Cryptocurrency, SCB, Cryptocurrency, Bank of Thailand, Siam Commercial Bank, Bank of Thailand, Rung Mallikamas, digital assets, SCB X
