The Securities and Exchange Commission (SEC) of Thailand is in the latest cryptocurrency news for its plans to legalize the local initial coin offering (ICO) market as well as open it to potential startups. Knowing that the Thailand crypto regulation efforts were inactive for long, this is definitely a step that would put the country closer to the cryptocurrency markets.
According to Tipsuda Thavaramara who is the deputy secretary of the Thai SEC, the crypto regulation in Thailand stands as following:
“The regulator will have to consider how to deal with STOs for issues such as share ownership, voting rights and dividend. At the moment, we have not decided whether STOs fall under the SEC Act or the Digital Asset Act, but it depends on the STO’s conditions and the details in its white paper.”
On top of this, the country’s SEC has recently scratched the surface of the Thailand crypto regulation issues with the approval of STOs in the local market, even though the plans to legalize ICOs are still contradictory and unclear.
This month, the Thai SEC reportedly approved the official launch of the country’s first ICO portal which brought a lot of positive news across many best cryptocurrency news sites. According to the news, there are plans for STOs approval in the local market.
“The next step is for an issuer to offer security tokens in the primary market,” said Archari Suppiroj, commenting the Thailand crypto regulation issue.
According to big names in the crypt industry, there are still legal boundaries between STOs and global financial regulations. As one prominent CEO said:
“There’s a misconception that there’s a Thai regulatory problem or that somehow the regulations need to change. They don’t. You need to comply with rules around the world. If the compliance doesn’t work, nothing else can happen. We have talked with a number of regulators in the U.S. and around the world. No one has given us negative feedback and no one has signed off on it, but our fundamental opinion is that we’re complying with the rules.”
In July, the Thai SEC officially legalized registered ICOs, allowing companies to run token sales with guidance from the SEC. All of this has led to greater Thailand crypto regulation and a lot of positive news in the crypto space.
The post Thailand Crypto Regulation Could Arrive Through ICO & STO Offerings appeared first on DC Forecasts – Leading Digital Currencies.