Thailand enacted cryptocurrency regulation in May. The country’s Digital Asset Act regulates cryptocurrencies and initial coin offerings (ICOs) and installs the Thai SEC as the main regulator of the crypto industry. However, STOs are not included within the scope of any current laws.
The publication detailed:
Thavaramara clarified, “At the moment, we have not decided whether STOs fall under the SEC Act or the Digital Asset Act,” adding that “it depends on the STO’s conditions and the details in its white paper.” She emphasized, “The SEC will have to consider carefully how to respond to each STO.”
Thai cryptocurrency exchange operator Satang Corp. has announced a plan to launch its own STO in the U.S., the Bangkok Post also reported.
Overstock.com’s August filing with the U.S. SEC states that its Tzero platform aims to provide “current market participants the opportunity to access crypto-securities without having to incur switching costs.” The filing further describes, “Tzero represents a regulated bridge between the traditional securities markets and the fast-emerging world of crypto-securities.”
According to the Bangkok Post, Thavaramara explained:
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