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Thailand SEC To Seek A Grip On ICO Regulation

The Securities and Exchange Commission (SEC) at Thailand have been strict on cryptocurrency and blockchain. However, now they roll out their latest plan to further form a grip in the industry.

According to the Bangkok Post, Thai regulators are planning to launch the first initial coin offering (ICO) regulations portal. They are preparing it to release later this month.

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It seems that ICOs gets a vet on a case-by-case basis. Shortly, after its launch, this feature will add to the portal. Although, yet there is no mention of such a setup date. Rapee Sucharitakul, the secretary general at SEC says,

At least one ICO portal will be certified in November, and then we can approve each ICO offering, which might start in December.

Thai security regulators believe to have ICO regulation portals for:

  • Help access ICOs for their legitimacy
  • Enable investors to conduct due diligence
  • Ensure know-your-customer (KYC) policies in use

Also Read: Thailand Government Leverage Blockchain Technology to Curb Tax Evasion

The government at Thailand was never afraid for rolling up their sleeves and showing involvement in cryptocurrency industry. Earlier in 2018, the Bank of Thailand shows up their plan to release a state backing cryptocurrency.

Their plans also outline how this project will get a design on Corda. This is basically a close and centralizes distributive ledger. Looking at the situation, Thailand seems fine with cryptocurrency, as long as it sticks to their terms.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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