Thailand Expects to Approve Five ICO Projects out of 50

Thailand Expects to Approve Five ICO Projects out of 50

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The Thai Securities and Exchange Commission (SEC) did not have time to promulgate the new rules of registration ICO, as requests were strewed before, than entered by virtue of change. Indeed, not all will be satisfied – as evaluated by a regulator, from 50 requests only five conform to the new requirements.

Officially the rules of registration ICO will inure to the end in June, however officials mark agiotage already now. The names the five lucky projects-persons are not divulged, the representatives of the regulator mark only, that such projects must have a “commercial value” and pass preliminary verification.

In any case, even if these verifications will be passed by one the 10 projects given for consideration, Thailand will become one of the first countries automatically, where ICO pass on legal grounds and in the managed environment.

We will remind that the Thailand regulator on meeting in June, 7 confirmed the rules of realization ICO. To the decision existed public listening, and also making alteration in a legislation about taxation of cryptocurrencies.

In particular, ordered the organizers ICO to have charter fund no less than 5 million baht (more than $150 thousand). But it not all is a company, preparing producing tokens, must give “absolutely clear information about the type tokens, that it is suggested to produce, and also provide information about the planned investments”. There are limitations on the amount tokens distributed between private investors. This category of investors can offer tokens in a volume no more than 70% from the general volume output, and the cost tokens on one man must not exceed 300 thousands baht ($9, 4 thousands).

Legislative innovations touch crypto exchanges, brokerage houses, dealers and other persons, involved in crypto trading, also. A regulator reported that would settle trading in the currency pairs of seven cryptocurrencies used for ICO. There are Bitcoin, Ethereum , Bitcoin Cash, Ethereum Classic, Litecoin, Ripple and Stellar.

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