In line with a recent official ‘statement‘ published, Thailand’s SEC [Securities and Exchange Commission] has updated the list of cryptocurrencies eligible to be used in initial coin offering [ICOs] investments and trading pairs.
From now, Bitcoin [BTC], Ethereum [ETH], Ripple [XRP] and Stellar [XLM] would be used for the requirements related to the initial coin offering investments and trading pairs complying with the regulations within ‘Thailand‘. While in the new SEC statement also reveals that the commission informs the general public that Bitcoin Cash [BCH], Ethereum Classic [ETC] and Litecoin [LTC] have been removed from the list as the operating digital asset exchanges have never used these cryptocurrencies as base trading pairs, thus there removal would have no impact on investors or digital asset businesses.
Moreover, the recent SEC statement conjointly specifies that the presence of any given crypto asset within the list doesn’t render it as a legal tender.
As recently ‘reported‘, Thailand’s National assembly has formally allowed the issuing of tokenized securities on ‘blockchain‘ via a modification to the existing SEC Act; those changes are expected to come into effect later this year.
Also, the NECTEC [National Electronics and Computer Technology Center] of Thailand ‘declared‘ earlier in Jan. this year that they have developed blockchain technology for e-voting. In line with NECTEC, once 5G is eventually adopted, all the voting process would be connected with the new technology.
Even earlier in January, Thai’s SEC, country’s Ministry of Finance issued crypto business licenses to 4 crypto related firms. These new licenses were issued by the finance ministry “under the advice of the SEC Board.” The four firms that received licenses are Bitcoin Exchange Co., Ltd., Bitkub on-line Co., Ltd., Satang Corporation, along with cryptocurrency brokerage Coins TH Co., Ltd.