Thailand Pushes Permissive Regulations as First Legal ICO Is Launched

Thailand has developed a permissive regulatory apparatus for digital currencies and cryptocurrencies fundraising methods.

Seamico Securities, a Thai financial Securities firm recently made an announcement that it has received approval from countries Securities and Investments Commission (SEC) to operate SE Digital, a regulated coin offering portal.

In doing so, SE Digital obtained permission to launch the first legitimate ICO in Thailand, with the company announcing that it hopes to raise between 2 billion and 3 billion Thai baht (between around $66 million and $99 million) through the token sale.

SE Digital will provide ICO services like including strategic advisory, primary issuance as well as support for secondary market access, from compliance to investor communications.

Thailand Pushes Crypto Regulations During 2019

Thai SEC granted crypto licenses to four crypto firms. The authorized crypto exchanges companies are:-

  1. Bitcoin Exchange Co.

  2. Bitkub Online Co.

  3. Satang Corporation

  4. Digital currency broker-dealer Coins TH.

In February Thailand’s National Legislative Assembly passed an amendment to the country’s Securities and Exchanges Act while legitimizing the issuance of securities via distributed ledger technology- while paving the way for STOs in the country.

Followed by the next month in March, SEC removed BCH, ETC, and LTC from the list of crypto assets that is authorized to compromise pairings for token offerings. Two weeks later, Thailand’s stock exchange announced that it is planning to build a digital asset platform to “digitize” its “capital market infrastructure”.

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