The Commission on securities and exchange Commission of Thailand (SEC) announced that 50 bids to host ICO in the country, she is ready to give approval to five.

The exact list of criteria that the SEC selects the ICO for approval is unknown. However, Tawatchai Kiatkamol (Thawatchai Kiatkwankul), Director of the division of corporate Finance, explained that before the question arises about the registration of these projects, they will go through a verification process.

If approved by the ICO campaigns will continue to grow, Thailand will join the still small number of jurisdictions in which initial proposals of the coins have legal status and are regulated.

Recall that for several months in Thailand, preparations were made for the creation of a regulatory framework concerning the regulation of cryptocurrencies. The result was a Royal decree cryptocurrency, which was first published on 15 may and should enter into force in a couple of weeks.

According to the law, retail investors who want to invest in ICO projects, will be limited to a hard limit in the amount of 300,000 baht (about $9000) for each campaign.

In addition to all the representatives of the cryptocurrency industry (exchanges, brokers and dealers) in the next three months have to register with the SEC.

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