The move by the Thai SEC is just the latest action by the regulator as it works to provide a framework for crypto in the kingdom.
It's not equity, it's an exchange token. But it sure is mooning, apparently linked to the recent success of Binance Smart Chain.
Exchange tokens reached all-time highs, again.
GameStop caught the stock-buying public's imagination. That excitement has spilled over to crypto.
The token has rallied nearly 13% Wednesday.
Centralized exchange tokens have been skyrocketing this year, but there is one problem behind the astonishing performance: They are becoming more like equity.
OKB is trading just above $4, down from nearly $6 before the news.
"Basically, we're trying to get people away from custodial exchanges," said ShapeShift CEO Erik Voorhees.
OTC trader Dong Zhao's crypto lending startup has lined up $21 million in commitments for a BNB-like token sale.
Cryptocurrency exchange Bitfinex is planning to issue a proprietary exchange token, according to a shareholder claiming knowledge of the plan.