Thailand Readies First ICO Portal, Junta Wants More Control
Mixed messages are still coming from Thailand with regard to the cryptocurrency industry in the Kingdom. This week the Thai Securities and Exchange Commission stated that at least one ICO portal will be certified this month, while the Deputy Prime Minister has called for more control over cryptos.
According to reports in the Bangkok Post the Thai SEC has made positive moves towards cryptocurrency and initial coin offering regulation;
“At least one ICO portal will be certified in November, then we can approve each ICO offering, which might start in December,” SEC Secretary General, Rapee Sucharitakul, stated.
Six crypto exchanges are still waiting for full approval from the regulator but are currently still permitted to operate in the country. The ICO portals will enable the screening of initial coin offerings, the conducting of due diligence, verifying KYC processes are in place, and checking smart contract source code. What they cannot do is determine whether the projects will be…
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