New ICOs Expected in Q3 Trueflip casino
Five ICO Projects Expected to be Approved
The Thai Securities and Exchange Commission (SEC) is expected to approve five first coin offering (ICO) projects once the legislation to regulate cryptocurrencies and ICOs goes into effect, according to the Bangkok Post. The Commission approved the relevant regulations earlier this week and expects them to become law by the end of the month, as news.Bitcoin.com previously reported.
While the SEC hasn’t revealed which ICO projects will be approved, Mr. Thawatchai Kiatkwankul, the Commission’s director of corporate finance in the equity section, was quoted by the news outlet:
From 50 ICO projects hoping to raise funds from the Thai capital market, five are prepared as initial pilot projects and bitcoin real casino terminal.
The announcement follows Jfin Coin by Jay Mart Plc’s subsidiary, J Ventures Limited two launched ICOs in Thailand, and ZMN.
New ICOs Expected in Q3
The regulator has put the brakes before the law takes effect. However,”Previously-leveraged businesses are still able to make transactions as normal since the law doesn’t apply retroactively,” Krungthep Turakij explainedTrueFlip rating id=”attachment_174530″ class=”wp-caption alignright”>Mrs. Tipsuda Thavaramara.
Mrs. Tipsuda Thavaramara, Deputy Secretary-General of the Thai SEC accountable for Policy and Corporate Finance Groups, said this week that an ICO issuer must first get approval from the ICO portal it needs to be listed on, Prachachat Turakij explained. ICO portals will act like financial advisors to the issuers, making certain that all know-your-customer (KYC) rules are followed. After obtaining the approval of the ICO portal, the SEC will take about two months before approving it to examine the ICO.
Must satisfy a number of criteria. For starters, they must have registered capital of at least 5 million baht (~US$156,625).
Retail investors can only invest up to 300,000 baht (~$9,343) per ICO project or no more than 70% of the total value of offered tokens, as news.Bitcoin.com previously reported. The limits do not exist for both institutional and ultra-high-net-worth investors.
Thai SEC’s Future Strategies for ICOs
Mr. Thawatchai Kiatkwankul added that in the future the Commission”is preparing to expand and combine its unit for registration of ICOs with initial public offerings (IPOs),” the Bangkok Post conveyed. Citing that ICO projects have growth potential, he further noted that the SEC will work with ICO portals to screen potential scams.
The book elaborated, with reference
Regulations and rules related to trades and digital asset investment could be eased, given national competition is on a level with other asset markets and that market participants are more educated on asset investment.
What do you think of Thailand’s policies on ICOs? Let us know in the comments section below.
Images courtesy of Shutterstock and Thai SEC.
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