Thailand’s financial regulator the Securities and Exchange Commission (SEC) has confirmed five ICOs are ready to raise funds via the country’s new fundraising regulations, local media Bangkok Post reported June 13.
Following new regulations governing cryptocurrencies that took effect May 14, ICOs will face obligatory requirements to register with the regulator, along with various other restrictions.
Thailand now requires virtually any entity involved in cryptocurrency to register with the SEC within 90 days of the May 14 deadline.
These include “ICO issuers, digital exchanges, brokers and dealers involved with digital asset transactions,” the Post confirms.
Last month, the Thai SEC opted to hold a dedicated Q&A session on the new rules after it appeared businesses were confused over their obligations.
Thailand’s securities regulator is reportedly expecting to approve five initial coin offerings (ICOs) later this month. According to the Bangkok Post on Wednesday, the Thailand Securities and Exchange Commission (SEC) has said that, while 50 ICOs in the country are currently applying for regulatory approval, five of them are already in a position to move ahead.
The US Securities and Exchange Commission (SEC) appoints a person in charge of cryptocurrency market and ICO regulation. The main declared aim is to protect retail investors.
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