The Securities and Exchange Commission of Thailand banned Litecoin (LTC), Bitcoin Cash (BCH) and Ethereum Classic (ETC) according to the latest crypto news coming from Thailand. The SEC banned the cryptocurrencies from eligibility for initial coin offerings, base trading pairs against other cryptocurrencies and investments.
The Thai SEC did, however, announced the approval of four cryptocurrencies for base trading pairs and ICOs such as Bitcoin, Ethereum, Stellar and Ripple.
The regulator stated that the ban list has no impact on investors since no ICO has been launched and because the crypto exchanges have never used the banned cryptocurrencies mentioned above. The regulator also previously stated that the main criteria are a decentralized robust system but also market liquidity in order to be able to use trading pairs with other cryptocurrencies.
Thailand is quickly becoming a key player in the Southeast Asian crypto industry since the SEC introduced back in 2018 a regulatory framework for initial coin offerings. Under this framework, ICO issuers must be based in Thailand with a registered capital of 5 million baht.
Also in 2019, the Stock Exchange of Thailand declared its plans to apply for digital asset operating license because the stock exchange wants to become an authorized crypto exchange by the end of this year.
The vice chairwoman of the SET’s board of governors Pattera Dilokrungthirapop explained that there are many Thai securities firms that are extremely interested in becoming certified broker-dealers:
‘’Securities firms are currently waiting for the SET to apply for a license. For us, digital assets are expected to grow in the future as investors gain more understanding of this asset class.’’
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Cryptopia Hackers Are Moving The Funds In At Least Four Wallets
“Despite the efforts of management to reduce cost and return the business to profitability, it was decided the appointment of liquidators was, in the best interests of customers, staff and other stakeholders. […] Given the complexities involved we expect the investigation to take months rather than weeks.”As the new analysis by CoinFirm notes, the hackers are moving the cash into separate wallets including the two CoinDesk which found that were directly connected to Huobi. “The Cryptopia hacker moved 30,790 ETH (~$7.67M) from the last red address to the yellow one which is a new address of the hacker as of May 20, 2019 at 01:43:57 AM +UTC. The yellow address still has got 29,770 ETH,” said CoinFirm’s Grant Blaisdell in a statement that went viral in the coming altcoin news. Two other addresses were also reported by many best cryptocurrency news sites - showing that they received a combined 1010 ETH while another 10 ETH landed in what appears to be a Huobi deposit address and a Huobi hot wallet. This means that the Cryptopia hackers are preparing to pull cash out through these exchanges. Even though there is no telling what is exactly happening to this Ether as it moves from one wallet to another, it is certain that the $16 million is not going to sit still for long.
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MakerDAO Token Holders Vote On Whether To Lower Stability Fees By 2%
"The Maker Foundation Interim Risk Team has placed an Executive Vote into the voting system, which will enable the community to enact a new Dai Stability Fee of 17.5%. The Executive Vote (FAQ) will continue until the number of votes surpasses the total in favor of the previous Executive Vote. This is a continuous approval vote," is what the announcement shared in our latest cryptocurrency news notes.If the decision is approved and the vote comes out positive, the proposal would decrease the stability fee by 2% to 17.5% per year. As the announcement outlined, the need to decrease the fee was discussed by the project's governance and now the MakerDAO token holders need to decide on it. For those of you who don't know, MakerDAO is looking to change the yearly stability fee in an attempt to improve the token's peg to the US dollar - especially after the exchange price has been hovering above the $1 level. The stability fee was a hot topic in the altcoin news and is seen as a charge that is levied by Maker participants when DAI is used for loans. In March, the MakerDAO token holders already decided to raise the stability fee (even twice), first to 3.5% and then to 7.5% per year. In April this year, this fee was further increased by another four percent in the fifth such vote this year which brought it down to 11.5%. The further votes brought the rate up to 19.5% at the beginning of the current month. As we already reported (and many best cryptocurrency news sites did too) at the end of the previous month, DAI has been struggling to maintain its peg. Aside from the MakerDAO token holders and their decisions, the president and chief operating officer claimed that DAI's value had been stabilized as of the beginning of May. On top of this, at the end of April, the chief technology officer at MakerDAO, Andy Milenius, published an open letter dated April 3 to explain his concerns over the project's internal conflicts.
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