Approval of the first ICO Portal by the Securities and Exchange Commission of Thailand

Approval of the first ICO Portal by the Securities and Exchange Commission of Thailand
Abstract

Thai legislators (SEC) announced the adoption of the first national coin supply portal in the country, according to Bangkok Post on March 12th.

15 12 2019

Thai legislators (SEC) announced the adoption of the first national coin supply portal in the country, according to Bangkok Post on March 12th.

The board of directors of the Securities and Exchange Commission of Thailand has agreed to launch the first ICO of the country, which will allow ICOs to display, implement due diligence assessments, validate source code contracts for smart contracts and handle the policy of customer identification policy (KYC). The wizard of this portal is a foreign person.
Archri Suppiroj, Director of the SEC Department of Finance, told Bangkok:

The first authorized ICO portal has reached the final stage for the official approval of government agencies such as the Ministry of Commerce. The ICO will be available to the public in the near future by issuing a royal decree on digital assets.

According to Arshari, the ICO market has evolved from an intangible and project-based idea to ICOs based on physical assets. Arshi also acknowledged that in the future, SEC will issue a standard that will allow companies to collapse securities and other assets.

Initially, the Thai Securities and Exchange Commission, in December, intended to overcome the barriers to launching the first ICO portal to enforce the law and to consider plans for the adoption of any of the ICOs that might have started that month.

In December, the Securities and Exchange Commission of Thailand, despite possible contingent barriers, announced its plans to bolster the rules that impede ICOs.

Tipud Thawaramara, Secretary-General of the Securities and Exchange Commission of Thailand, said:

The guidelines, considering risk management and protecting investors, are an attempt to find more balance in the legal process and reduce legal barriers.


Source: cointelegraph

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