Thailand strengthens its grip on ICO regulation

Thai regulators have been crypto-currency and blockchain tough this year, and if they launch their latest plan, they will further strengthen their grip on the sector.

The Thai Securities and Exchange Commission (SEC) is preparing to launch its first regulated portal of initial offer of coins (ICO) later this month, according to the Bangkok Post.

It appears that ICOs will be reviewed on a case-by-case basis and will be added to the portal shortly after launch, although no specific date has yet been mentioned.

"At least one ICO portal will be certified in November, so we can approve every ICO offer, which could begin in December," SEC Secretary-General Rapee Sucharitakul told The Bangkok Post.

Thai regulators believe that regulated ICO portals will help to control the legitimacy of ICOs, help investors to exercise due diligence, and ensure that customer knowledge policies are used.

The Thai government was not afraid to roll up its sleeves and get involved in the cryptocurrency industry. Earlier this year, the Bank of Thailand announced its government-backed cryptocurrency projects.

The plans described how the project would be built on Corda, a distributed and centralized large distributed book. It seems that Thailand accepts cryptocurrency, provided it is on its terms.

Posted on 9 November 2018 – 09:49 UTC