The board of directors of the Thai SEC has approved the country’s first portal for initial coin offerings (ICOs). ICOICO
(Initial Coin Offerings) is an acronym, which means a primary currency offer. Details portals help to conduct a comprehensive review, verify the correct source codes of contracts and create a "know your customer" process, as reported by the informational edition Bangkok Post.
Archari Suppiroj, Director of Financial Technology, said that: "ICO, Thailand’s first authorized portal, is being finalized for official approval by relevant government agencies, such as the Ministry of Commerce."
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The Securities and Exchange Commission of Thailand approved the country's first portal for the initial coin offerings. Digitizing other types of assets, such as securities, to raise funds by running STO is prohibited, because securities transactions are subject to another law, and those interested in launching STO will have to apply for a license as securities transactions. which are controlled in accordance with the Securities and Exchange Act.
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The SEC will issue rules for custody centers and rules to support tokenizationToken
– is an accounting unit that is used to represent a digital balance in an asset.Details, and will also change the role of related parties, such as financial advisors and underwriters.
The market regulator aims to create equal conditions for all who have deep knowledge of digitization and tokenization.
For investors, a key element of investment is knowledge and understanding, such as knowledge of asset rights, risks, and restrictions.
Editor: Pereyidenko Ihor