Thailand sets up devices to regulate the ICO

In the framework of its policy for the regulation of crypto-currencies, Thailand has developed new measures to regulate the ICO by expanding the current guidelines. The discussions on these devices between the relevant institutions have already started.

Source : Pixabay. Thailand wants to put in place new measures to regulate the ICO.

The first ICO to be carried out by a company registered locally is planned for march. The plan is to collect more than $ 20 million to launch a platform for decentralised lending.

Changes will be made by the SEC

The SEC and the stock Exchange of Thailand to discuss a comprehensive regulatory framework that will cover the collection of funds thanks to the ICO, reported the Bangkok Post. A public hearing should be conducted in the near future. Once completed, these new rules will be presented to the board of directors of the Commission for a more in-depth review.

Check out below the details of this novel :

The current guidelines limit the maximum investment to $ 10,000 per ICO and 95 000 dollars per person. Using additional information collected from the participants, the board of directors of the SEC will finalize the regulatory framework for the sales symbolic and related financial transactions. The issue should be raised with the board in the first quarter of this year.

The ICO is a means of financing widely used in other countries

The secretary-general of the SEC, Rapee Sucharitakul noted that the rapid development of the ICO in many countries is the main reason of the decision of Thailand to address the issue. The sales of digital currency will be discussed when the board of directors of the SEC will meet again. If the offices of the country are not regulated, investors and other participants may cast doubt on their legitimacy, said Rapee.

He stressed the growing popularity of ICO with start-ups in the technology sector. According to him, the ICO are fashionable because they can afford to raise funds quickly without the need for a financial statement.

Source : NewsBitcoin