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) jobs once the law 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 previously reported.

While the SEC has not revealed which ICO projects will be approved, Mr. Thawatchai Kiatkwankul, the Commission’s director of corporate finance in the equity department, was quoted by the news outlet:

Out of 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 ZMN tokens by Zmine Holdings: Jfin Coin by Jay Mart Plc’s subsidiary, J Ventures Limited, and two established ICOs in Thailand.

New ICOs Expected in Q3

The regulator has put the brakes on all ICOs before the law takes effect. However,”Previously-leveraged companies are still able to make transactions as normal since the law does not apply retroactively,” Krungthep Turakij clarifiedcloudbet bitcoin casino 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, stated this week that an ICO issuer must first get approval from the ICO portal it needs to be listed 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 review the ICO after obtaining the approval of the ICO portal.

Companies wanting to issue tokens must meet a number of criteria determined by the SEC. 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 total value of offered tokens, as previously reported. The limits do not exist for ultra-high-net-worth and institutional 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 further noted that the SEC will work to display potential scams.

The book elaborated, with reference to the director:

Rules and regulations related to trades and digital asset investment could be eased, given that market participants are educated on asset investment and domestic competition is on a par with other electronic asset markets.

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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