Thailand is reportedly about to greenlight the first ICO portal this month.
According to the local news report, the Thai Securities and Exchange Commission may register the first ICO portal in November, while the market may see first legal ICO in December already.
"At least one ICO portal will be certified in November, then we can approve each ICO offering, which might start in December,” noted Rapee Sucharitakul, secretary general of the Thai Securities and Exchange Commission (SEC).
For now, there are also five digital asset operators are said to wait for the final determination of the country's regulator.
This may mark the final step of the country to provide a legal and formal framework for the crypto and digital asset operators, the reports read.
The companies keep submitting license applications, and they still can operate since the request is filed within 90 days once the Royal decree covering digital assets came into force this May. As commented SEC representative, this initiative – ICO portals – is believed to soften supervision and checking of ICOs as well as prove smart contract source code and realize the KYC policy.
However, market players should take into account that investments in ICOs remain risky activities even despite the ICO portals.