Thailand Crypto Exchanges Stick to New ICO Licensing Rules
August 9, 2018
New regulations for obtaining licenses for ICOs that offer token exchange and trade services have attracted 20 crypto exchanges just a few weeks after entering to force.
The information was voiced by the secretary general of the Thailand Securities and Exchange Commission Rapee Sucharitakul who said that 20 crypto exchanges have already applied for trade platform licenses.
The rule entered in force on July 16. Under this rule all projects that offer crypto exchange services must be approved by the SEC before trade starts.
“Many companies interested in opening digital asset exchanges have said digital assets and cryptocurrency trading in the Thai market are quite active”, Sucharitakul noted.
In addition, according to the Commission data, about 50 ICOs have expressed their wish to get licensed for token trading within the country.
Still before granting any license to single projects the Commission will select the so called ICO-portals first that actually are online markets where the would-be ICO emitters will be able to manage their token trade. Sucharitakul claimed, three out of five companies that wish to become ICO-portals have already filed their applications.