Thai crypto adoption is booming, with volume up 588% since November

By Samuel Haig

While crypto volumes surge on Thailand’s licensed exchanges, P2P platforms appear to be falling out of favor

Crypto adoption appears to be booming in Thailand, with the local Securities and Exchange Commission, or SEC, estimating domestic crypto volumes have increased by nearly 600% since November.

Data compiled by the Thai’s SEC and published by

In response to the increasing popularity of crypto, Thailand’s SEC has proposed introducing a training course and test to restrict inexperienced traders from speculating on crypto assets. Last month, the commission also hinted it will introduce a $32,000 minimum annual income requirement for domestic crypto traders.

Alongside a spike in crypto trading, Thailand also appears to be having a DeFi boom, with the country ranking, with a late-March report from The Defiant finding the country to rank second worldwide by search traffic for the keyword “decentralized finance” over the past 12 months.

The report also found Thailand to be among the top emerging economies for traffic to top DeFi protocols, with Thai visitors representing the second-largest segment of traffic to Badger Finance, ranking third on MakerDAO, and fifth on Curve.

Source:: https://cointelegraph.com/feed