20 cryptocurrency exchanges in Thailand have applied to the Commission on securities and exchange Commission of Thailand (SEC) for a license for companies working with digital assets. The new licensing system came into force just a few weeks ago. On a large number of applications, said General Secretary of the Commission of RAPI Sucharitakul (Rapee Sucharitakul).
The licensing system was part of a package of legal acts that regulates the conduct of ICO in the country. In order for the company to start the initial placement of tokens, it must be registered with the SEC. The same applies to any sites, which is traded cryptocurrency: they cannot conduct business without the approval of the Supervisory authority.
“Many companies interested in opening trading platforms for digital assets, say that trade cryptocurrency very popular in the Thai market,” — said Sucharitakul.
In addition, in June, the SEC had received from Thai companies have 50 bids to host the ICO. This demonstrates the great interest of market participants in the organization meets the requirements of the regulator of the sale tokens in the country. However, before the Commission will issue licenses to individual projects, it is necessary to debug a system of registration for portals ICO — special platforms where potential issuers will be able to sell tokens. SEC Secretary-General said that of the five companies expressed a desire to become portals ICO, the three filed the application for registration.
A few days ago, the Central Bank of Thailand (BOT) issued a set of rules for commercial banks and their subsidiaries, which plan to work with cryptocurrency. The document specifies that it is forbidden to do such organizations, in order to prevent risks for consumers and the economy.
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