-
Cryptocurrencies Over The Past Three Years - 12th March 2021
-
Online Crypto Gambling in Canada - 3rd March 2021
-
Some Tips on Crypto - 2nd March 2021
-
Where Does Ripple Fit Into The History of Money? - 2nd March 2021
-
Bitcoin Trading Tips - 4th February 2021
-
The Top Trends In The Fintech Sector In 2021 - 29th December 2020
-
What You Need To Know When Trading Stablecoins - 19th December 2020
-
Things to Know Before Investing in Digital Currencies - 12th December 2020
-
How To Secure Your Bitcoin Wallet - 14th October 2020
-
What You Need To Know About Bitcoin - 14th October 2020
Thailand Clears Five ICOs for Takeoff
Earlier this week the Thai Securities and Exchange Commission (SEC) approved certain cryptocurrencies, including Bitcoin, Litecoin and, perhaps more surprisingly, Stellar Lumens, for use as trading pairs or as payment for ICO tokens.
Now, in a further piece of good news for crypto-enthusiasts in Thailand, the SEC has now given the go ahead to five ICOs to conduct their offerings, provided they stick to the new cryptocurrency regulations which came into effect last month.Â
The unnamed ICOs will serve as a pilot for Thailand’s nascent ICO scene as all players — ICOs, regulators and investors — figure out how they can develop together. Â
Investor Protection
The updated legal framework is designed to protect investors and requires that ICOs register with regulators before any token sale. 50 ICOs have so far presented themselves to the SEC, but according to Thawatchai Kiatkwankul, the SEC’s director of corporate finance, only five are ready to be registered.Â
When asked what regulators were looking for, Mr. Thawatchai said that, “Projects which can be [easily vetted] and have commercial attributes attached to them will be considered for fund-raising.”Â
Quoted in the Bangkok Post, Mr. Thawatchai implied that once the public were better educated on the risks inherent in ICO and cryptocurrency investment, he might be able to loosen some of the restrictions placed on the industry.Â
Certainly he seems to believe that the ICO scene in Thailand can only get bigger: the country’s SEC is already beefing up its headcount to deal with the influx of expected ICO registrations.