The Thai Securities Regulatory Authority will clear the "at least one" portal of the "Initial Crypto-Coin Offers" (ICO) portal to begin legal work from the end of November this year, as stated in the Bangkok Post report.
Before the publication of the document on the “cleansing” of ICOICO
(Initial Coin Offerings) is an acronym, which means a primary currency offer. Details portals, the Secretary General of the Thai Securities and Exchange Commission (SEC) Rapee Sucharitaku said: "(...) ICO in Thailand can also begin official work to serve Thai markets as early as December of this year (...) At least one ICO portal will be certified at the end of November. After that, we will be able to approve every honest proposal of the ICO, which can begin implementation from December of this year."
This message can mark the beginning of the final stages of the final impetus of Thailand to the formalization of the cryptocurrency market. Recall that the start of work with cryptocurrencies at the state level in Thailand, began with the issuance of the Royal Decree in May 2018.
By managing all forms of cryptocurrency companies (from ICO to exchangers and cryptocurrency exchanges), the law is trying to lure new investors who would like to work in Thailand. During his speech, Rapee added that already five large crypto-platforms are currently under consideration by the Ministry of Finance.
"We have always warned investors that they can be persuaded to invest in ICO proposals. Because the modern crypto-market is full of scammers, or projects that do not have enough liquidityLiquidity
– is a term that means the ability to sell any financial assets (below or above the market price). The term “liquidity” in Latin means “liquid”, “flowing”.Details to trade" – Rapee Sucharitaku.
After the speech of the Secretary General of the Thai Securities and Exchange Commission, a new law was adopted governing the provision of digital assets and enterprises working with them.
The first six campaigns licensed in Thailand: Bitcoin Co (bx.in.th), Bitkub Online Co Ltd (bitkub.com), Cash2Coins Co Ltd (cash2coins.com), Satang Corporation Co Ltd (tdax.com), Coin Asset Co Ltd (coinasset.co.th) and Southeast Asia Digital Exchange Co Ltd (seadex.io).
Editor: Yuliya Soroka