Thai SEC Plans to Relax ICO Regulations

The Thai Securities and Exchange Commission (SEC) is reportedly planning to ease the country’s regulation for initial coin offerings. The regulator is conducting a public hearing to relax rules on pre-sales and private token sales. The commission has also unveiled plans to prevent the exploitation of token sales.

Relaxing Rules

The Thai SEC made an announcement regarding the country’s regulation for initial coin offerings on Thursday. According to the Bangkok Post:

Thailand enacted the royal decree on digital assets on May 14, putting the Thai SEC in charge of regulating all activities relating to cryptocurrencies and ICOs. Crypto exchanges, brokers and dealers must be licensed by the commission. Currently, six exchanges and one dealer have received temporary licenses but no ICO portal has been certified. SEC secretary-general Rapee Sucharitakul previously said that an ICO portal was likely to be certified in November. However, after evaluation, the regulator reportedly said that the portal will not be approved this year due to some security issues.

ICO Regulatory Framework in the Works

Senanarong further noted that there is no investment limit for institutional investors, venture capitals, or high net worth investors. However, there is a limit for retail investors. The Bangkok Post added that, over a 12-month period, each token sale will be limited to 50 investors, while the investment limit for individual investors will be 20 million baht (~$611,957). The news outlet further elaborated: