The central bank of Laos has licensed two cryptocurrency trading platforms.
Laos Digital Asset Exchange (LDX) and Bitqik are currently the only two licensed institutions that can provide a full range of brokerage services, trading cryptocurrencies and other digital assets in country.
Authorized Cryptocurrency Exchange in Laos
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The central bank of Laos (BOL), is said to have granted licenses to two crypto-trading companies, local media reported on Wednesday.
The first authorized platform is the Laos Digital Asset Exchange (LDX), a joint venture between AIF Group and Phongsupthavy Group. The second is Bitqik, a subsidiary of Simuong Group.
Both platforms are expected to offer full services in April. They will operate in full compliance with central bank regulations.
BOL Governor Sonexay Sitphaxay said the central bank has spent a lot of time and resources on establishing a regulatory framework for cryptocurrencies, in consultation with the business community, stakeholders and institutions. government agency.
The central bank will now monitor the operation of the two licensed platforms to ensure investor protection and improve existing regulations.
In August of last year, the central bank of Laos issued a notice warning the public about the use of cryptocurrencies, including bitcoin and ether.
The central bank explained that cryptocurrencies are not real currencies and are not regulated in Laos. The BOL also urges investors to consider the risks associated with cryptocurrencies before investing in them.
However, Laos allowed Mining and trading cryptocurrencies last September. The prime minister’s office said at the time that six companies were allowed to mine and trade cryptocurrencies.