septiembre 6, 2017 | Posted in:Blog
Five ICO Projects Expected to be Approved
The Thai Securities and Exchange Commission (SEC) is expected to approve five initial coin offering (ICO) projects once the legislation to govern cryptocurrencies and ICOs goes into effect, according to the Bangkok Post. The Commission approved the applicable regulations before this week and expects them to become law by the end of the month, as news.Bitcoin.com previously reported.
While the SEC has not revealed which ICO projects will be accepted, the Commission’s director of finance in the equity section, Mr. Thawatchai Kiatkwankul, was quoted by the news outlet:
Out of 50 ICO projects hoping to raise funds from the Thai capital market, five are ready as first pilot projects and bitcoin real casino terminal.
The announcement follows two Jfin Coin by Jay Mart Plc’s subsidiary, J Ventures Limited, and ZMN tokens by Zmine Holdings.
New ICOs Expected in Q3
Before the legislation takes effect, the regulator has put the brakes. However,»Previously-leveraged companies are still able to make transactions as normal since the legislation doesn’t apply retroactively,» Krungthep Turakij explainedbitcoin online casino free to play online casino accepts credit cards and withdrawn on bitcoin id=»attachment_174530″ class=»wp-caption alignright»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 gain approval from the ICO portal it wants to be recorded on, Prachachat Turakij described. ICO portals will behave like financial advisors to the issuers, making certain that all know-your-customer (KYC) rules are followed. The SEC will take before approving it to examine the ICO after obtaining the approval of the ICO portal.
Companies wanting to issue tokens must meet 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 percent of the whole value of offered tokens, as news.Bitcoin.com previously reported. The limits don’t 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 enrollment of ICOs with initial public offerings (IPOs),» the Bangkok Post conveyed. Citing that ICO jobs have growth potential, he noted that the SEC will work to display potential scams.
The book elaborated, with reference
Regulations and rules related to asset investment and transactions could be eased, given competition is on a par with asset markets and that market participants are 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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