Thai Sec Confirms ICO Tokens Will Not Be Traded Against Fiat Currencies

The SEC in Thailand is ready to regulate cryptocurrency in the country. Cryptocurrency regulation will bring more legitimacy to this industry. A key aspect of the new rules is that ICO tokens cannot be traded for fiat. The agency seeks to make all service providers comply with these rules by the end of June. It is an organic law which regulates both the trading and transacting of digital assets in the country. Additionally, companies providing such services will need to apply for a new license. Anyone selling digital tokens without authorization will be fined. Such fines will be twice the value of the digital tokens. Failure to comply can also result in jail time of up to two years.

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