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The Thai Securities and Exchange Commission (SEC), the nation’s key cryptocurrency regulator, has revealed the amount of companies which have applied to function initial coin offering (ICO) portals in the country.
According to the Bangkok Insight, Mrs. Praopon Senanarong, the Assistant Secretary of the Thai SEC, said that the ruler is reviewing six software for ICO portals, which are expected to be accepted in the fourth quarter of this year. Moreover, 12 portals are interested but have not applied for a permit.
Moreover, the SEC will set up a committee of ICO pros and SEC representatives to oversee ICO and ICOs portals in Septemberjack and the beanstal bitcoin casino bitcoin casino no deposit bonus 2018 >Firm Issuing Token Without License
The SEC issued a public warning last week about DB Hold Plc soliciting investments in stocks and a token without approval after receiving inquiries from investors concerning the company and bitcoin casino no deposit bonus 2018.
After investigating, the SEC found that the company has been soliciting investors through social media for business shares and pre-ICO tokens in the sum of 500 million baht (~US$15,346,130).
The SEC claims that it has ordered the company to cease all actions relating to the issuance of the token. The regulator reiterates that no company was granted approval to issue new tokens. Companies that launched their tokens prior to the adoption of the crypto regulations of the country , however, are exempt from having to apply for a permit.
New Plan for First ICO by Thai Stock Exchange-listed Company
Jmart Plc is the first company listed on the Stock Exchange of Thailand to issue a token. The business issued Jfincoin through its subsidiary, Jventures Plc. Despite much effort, the coin’s value has dropped from 6.60 baht (~$0.20) per coin in February to about 1.70 baht (~$0.05) within 6 months of launch, Mgr Online reported.
Adding to the loss of investor confidence is the allegation that a former Jventures executive has been involved in the high-profile bitcoin fraud case involving a well-known soap actor scamming a bitcoiner, the information outletcloudbet scam business has now come up with a new strategy. Jmart is seeking permission from the Bank of the SEC and Thailand to use Jfincoin for payments in shops, starting with its own Jmart stores. If accepted, this coin will be the first legal token that can be used for payments in the country, the publication conveyed.
What do you think about how Thailand is managing ICOs? Let us know in the comments section below.
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