Five ICO Projects Expected to be Approved
The Thai Securities and Exchange Commission (SEC) is expected to approve five first coin offering (ICO) projects once the legislation to regulate cryptocurrencies and ICOs goes into effect, according to the Bangkok Post. The Commission approved the applicable regulations earlier this week and expects them to become law by the end of the month, as news.Bitcoin.com previously reported.
Mr. Thawatchai Kiatkwankul, the Commission’s director of finance in the equity section, was quoted by the news outlet while the SEC hasn’t revealed which ICO projects will be approved:
From 50 ICO projects expecting to raise funds from the Thai capital market, five are prepared as initial pilot projects and bitcoin real casino terminal.
The announcement follows ZMN: Jfin Coin by Jay Mart Plc’s subsidiary and two recently launched ICOs in Thailand.
New ICOs Expected in Q3
The regulator has put the brakes on all ICOs before the law takes effect. However,”Previously-leveraged companies are still able to make transactions as normal since the law does not apply retroactively,” Krungthep Turakij clarifiedcasino games for bitcoin bitcoin cash casino windermere fl id=”attachment_174530″ class=”wp-caption alignright”>Mrs. Tipsuda Thavaramara.
Mrs. Tipsuda Thavaramara, Deputy Secretary-General of the Thai SEC in charge of Policy and Corporate Finance Groups, stated this week that an ICO issuer must first get approval from the ICO portal it needs to be listed on, Prachachat Turakij described. ICO portals will act like financial advisors to the issuers, making certain that all know-your-customer (KYC) rules are followed. After gaining the approval of the ICO portal, the SEC will take before approving it to review the ICO.
Companies wanting to issue tokens must meet a number of criteria. For starters, they must have registered capital of at least 5 million baht (~US$156,625).
Retail investors can only invest up to 300,000 baht (~$9,343) per ICO job or no more than 70% of the whole value of offered tokens, as news.Bitcoin.com previously reported. The limits don’t exist for institutional and ultra-high-net-worth investors.
Thai SEC’s Future Strategies for ICOs
Mr. Thawatchai Kiatkwankul added that in the future the Commission”is preparing to expand and combine its unit for enrollment of ICOs with initial public offerings (IPOs),” the Bangkok Post conveyed. Citing that ICO jobs have growth potential, he further noted that the SEC will work with ICO portals to display potential scams.
The publication elaborated, with reference
Rules and regulations related to transactions and asset investment could be eased, given that market participants are more educated on digital asset investment and competition is on a par with asset markets.
What do you think of Thailand’s policies on ICOs? Tell us in the comments section below.
Images courtesy of Shutterstock and Thai SEC.
Need to compute your bitcoin holdings? Check our tools departmentcasino bonus the casinomeister get the fuck
Source: bitcoincasinoreview.net
Loading ...