A new rule in Thailand introduced for initial coin offering ‘ICO’ has recently gained officials interest simply a week after this rule was implemented.
In a recent news reported by Bankok post today, The secretary general of Thailand’s SEC ’Rapee Sucharitakul’ stated that more than Twenty crypto exchanges have already filed their applications, seeking to be authorised trading venues. Mentioning further he said:
“Many firms inquisitive about opening crypto exchanges in the country say that digital assets are very popular within the Thai market.”
As a part of this licensing rule introduced in Thailand, effective from 16th July this year, the digital exchanges and ICO projects should conjointly gain an approval from the SEC before any trading starts in the country.
Stating further, the SEC’s secretary general said that there are currently around fifty ICO projects awaiting approval for licenses complying to full authority of regulations in the country followed by their token sale.
However, before the SEC issues license to any of this project, firstly it would choose the alleged “ICO portals,” that are online marketplaces where potential ICO projects will operate their sales.