Trading of 7 cryptos gets greenlight in Thailand

Posted 11 June, 2018

Last Friday, Thailand's Securities and Exchange Commission reportedly unveiled new details of the crypto and ICO regulation to come into force in late June.

According to the local media, the following seven digital coins have been allowed for ICO and trading: bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Ripple, Litecoin and Stellar.

The reason behind such selection lies in high liquidity of these coins and good image among investors.

"Consensus credibility and cryptocurrency liquidity are some of the main criteria used by SEC to access cryptocurrency trading pairs," the news report reads.

In addition, the new rules also require that Thai-based crypto exchanges must submit the license application before August 14. In particular, the regulator is said to expect 10 companies to sign up for the certification. Under the new regulation, the players may pay fees – up to THB 20 million for exchanges and up to THB 5 million for brokers. 

Every ICO should specify the tokens to be issued as well as provide detailed investment information. 

"ICO portals are required to look after ICO offerings for at least a year, and ICO portals must have minimum registered capital of 5 million baht"

Notably, local authorities will not limit the number of ICO projects.

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11 June, 2018 17:56

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