Kingdom of Thailand Publishes New ICO Legalization Framework

The Thai Securities and Exchange Commission officially announced the upcoming launch of a new regulatory framework for cryptocurrencies and ICOs, scheduled to come into effect July 16, 2018. The pro-crypto Southeast Asian nation recently announced the legalization of domestic cryptocurrency markets with two royal decrees earlier this year. The Thai SEC’s statement unequivocally outlines the Thai government stance on ICOs, stating that the SEC supports the issuance and offering of digital tokens via ICO. ICOs operating within Thailand must be submitted by a Thai company with a registered capital of no less than 5 million Baht ($150,000 USD) and will be screened by an SEC ICO portal to evaluate the business plan and distribution structure of tokens. Interestingly, the SEC’s ICO portal will also audit project code repositories.

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