Thai SEC Approves ICO Portal, will Streamline STO Next
- Approval for the still unnamed portal is now pending with other agencies.
Thailand’s Securities and Exchange Commission (SEC) has approved a portal for Initial Coin Offering (ICO) Initial Coin Offering (ICO) An Initial Coin Offering (ICO) is a kind of crypto token sale that is used as a method of fundraising, similar to an Initial Public Offering (IPO), in which stocks are sold to raise money for a company.In order to launch an ICO, a company simply needs to create a website, issue a token, and set a time and date for the sale. Investors buy ICO tokens in exchange for another cryptocurrency, like Bitcoin or Ethereum; after a set amount of time, they receive the tokens they purchased in the sale.Acco An Initial Coin Offering (ICO) is a kind of crypto token sale that is used as a method of fundraising, similar to an Initial Public Offering (IPO), in which stocks are sold to raise money for a company.In order to launch an ICO, a company simply needs to create a website, issue a token, and set a time and date for the sale. Investors buy ICO tokens in exchange for another cryptocurrency, like Bitcoin or Ethereum; after a set amount of time, they receive the tokens they purchased in the sale.Acco Read this Term) in the country.
According to the March 13 report by Bangkok Post, the board of directors of the SEC has given the approval for the still unnamed portal, which will help to screen ICOs, conduct due diligence, prove smart contract source codes, and verify the know-your-customer process.
After receiving a go-ahead from the SEC, other government agencies in the country, including the Commerce Ministry, are now reviewing the portal to grant their approval, Archari Suppiroj, director of the fintech department at the SEC, confirmed to the publication.
The portal, however, will not support tokenization of securities as they fall under a different law in the country and firms seeking funds via that route need to apply for a license under the Securities and Exchange Act.
The financial watchdog is also considering to issue a set of guidelines for securities token offering (STO).
Creating a Fair Market
“The first ICO deal will be available for [a] public offering in the near future under the digital asset royal decree... In the future, the SEC will issue a criteria that allows companies to apply tokenization to securities and other assets,” Suppiroj said. “This will help Bridge Bridge The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service its clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Metat The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service its clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Metat Read this Term the digital asset royal decree and securities law.”
According to Suppiroj, the ICO market has matured a lot in the past few years - evolving from project-based token sales to digital currencies backed by intangible assets. The Thai regulator is trying to create a fair market for the new-age funding technique where any players - big or small - will have a similar advantage.
“The next step is for an issuer to offer security tokens in the primary market,” the director added.
A Delayed Decision
The Thai market regulator announced the development of a dedicated ICO portal last November, as reported by Finance Magnates, which was supposed to go live in the next month. However, even with the delay, it is considered to be a major step towards putting the digital assets in the mainstream.
Last month, the watchdog banned the use of three major cryptocurrencies - Litecoin, Bitcoin Cash, and Ethereum Classic - from being used in ICOs, only allowing Bitcoin, Ethereum, Ripple, and Stellar to be used.
Thailand’s Securities and Exchange Commission (SEC) has approved a portal for Initial Coin Offering (ICO) Initial Coin Offering (ICO) An Initial Coin Offering (ICO) is a kind of crypto token sale that is used as a method of fundraising, similar to an Initial Public Offering (IPO), in which stocks are sold to raise money for a company.In order to launch an ICO, a company simply needs to create a website, issue a token, and set a time and date for the sale. Investors buy ICO tokens in exchange for another cryptocurrency, like Bitcoin or Ethereum; after a set amount of time, they receive the tokens they purchased in the sale.Acco An Initial Coin Offering (ICO) is a kind of crypto token sale that is used as a method of fundraising, similar to an Initial Public Offering (IPO), in which stocks are sold to raise money for a company.In order to launch an ICO, a company simply needs to create a website, issue a token, and set a time and date for the sale. Investors buy ICO tokens in exchange for another cryptocurrency, like Bitcoin or Ethereum; after a set amount of time, they receive the tokens they purchased in the sale.Acco Read this Term) in the country.
According to the March 13 report by Bangkok Post, the board of directors of the SEC has given the approval for the still unnamed portal, which will help to screen ICOs, conduct due diligence, prove smart contract source codes, and verify the know-your-customer process.
After receiving a go-ahead from the SEC, other government agencies in the country, including the Commerce Ministry, are now reviewing the portal to grant their approval, Archari Suppiroj, director of the fintech department at the SEC, confirmed to the publication.
The portal, however, will not support tokenization of securities as they fall under a different law in the country and firms seeking funds via that route need to apply for a license under the Securities and Exchange Act.
The financial watchdog is also considering to issue a set of guidelines for securities token offering (STO).
Creating a Fair Market
“The first ICO deal will be available for [a] public offering in the near future under the digital asset royal decree... In the future, the SEC will issue a criteria that allows companies to apply tokenization to securities and other assets,” Suppiroj said. “This will help Bridge Bridge The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service its clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Metat The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service its clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Metat Read this Term the digital asset royal decree and securities law.”
According to Suppiroj, the ICO market has matured a lot in the past few years - evolving from project-based token sales to digital currencies backed by intangible assets. The Thai regulator is trying to create a fair market for the new-age funding technique where any players - big or small - will have a similar advantage.
“The next step is for an issuer to offer security tokens in the primary market,” the director added.
A Delayed Decision
The Thai market regulator announced the development of a dedicated ICO portal last November, as reported by Finance Magnates, which was supposed to go live in the next month. However, even with the delay, it is considered to be a major step towards putting the digital assets in the mainstream.
Last month, the watchdog banned the use of three major cryptocurrencies - Litecoin, Bitcoin Cash, and Ethereum Classic - from being used in ICOs, only allowing Bitcoin, Ethereum, Ripple, and Stellar to be used.