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Thailand's Regulator To Ease ICO Requirements

19:02 22/12/2018

The Securities and Exchange Commission of Thailand (SEC) intends to soften regulations regarding the ICO organizers, Bitcoin.com reports referring to the Bangkok Post.

 

The financial regulatory institution holds public hearings and collects the opinions of interested parties in order to soften the rules of presales, private token sales, and reduce barriers to raising funds by ICO issuers.

The present norms hinder the collection of funds during ICOs, so the officials intend to allow the sale of private tokens without submitting a registration statement and a corresponding ICO plan.

 

In the spring of 2018, a royal decree concerning digital assets was issued in Thailand, under which the responsibility was imposed on the Commission for the regulation of all activities related to cryptos and ICOs. Cryptocurrency trading platforms and dealers had to be approved and licensed by SEC.

By mid-December 2018, only six platforms and one trader obtained provisional licenses, and not a single ICO was certified. Rapee Sucharitakul, Secretary-General at SEC, stated earlier that the certification of ICOs will start in November, but later the deadlines were postponed because of the issues related to the security of projects.

 

All notes and suggestions concerning the regulation will be accepted by SEC of Thailand until January 22, 2019.

 

As previously reported, the Thai Commission has banned the advertising of Q Exchange.

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