Bitcoin futures market is open for Thailand's investors

posted about 1 year ago
Phillip Securities Thailand has allowed Thai investors to speculate on bitcoin via an international global derivatives trading service, while Thailand's market regulators are in consensus that the move is legitimate.

Such service offers bitcoin futures trading on the Chicago Board Options Exchange (CBOE) and the Chicago Mercantile Exchange (CME).

Managing director Low See Kiong said some Thai investors are interested in bitcoin and able to accept the investment risks inherent in futures.

"Using bitcoin as an underlying asset on the CBOE and CME will lead to greater acceptance of bitcoin futures as they have reliable payment systems and are regulated by the US Securities and Exchange Commission," Mr Low said in a press release.

"Since this [investment] product is under the supervision of a standardized regulatory body, a point of concern in this case is not about fraud or money laundering, but rather how this product has high risks," said the statement.

Prime Minister Prayut Chan-o-cha has recently instructed the Finance Ministry to educate people about the risks of bitcoin investment.
Tags: bitcoin, news