Thailand’s Securities and Exchange Commission (SEC) has approved the country’s first Initial Coin Offering (ICO) portal as it prepares the way for the establishment of a regulated cryptocurrency fundraising space. The regulators also say detailed guidelines concerning securities token offerings (STO) are being prepared. This news is the latest positive development concerning cryptocurrency regulation in Southeast Asia as the adoption of the emerging digital economy continues to take shape in the region
Thai SEC Approves Unnamed ICO Portal
According to the Bangkok Post, the board of directors of the Thai SEC has approved the first-ever ICO portal in the country. Commenting on the development, Archari Suppiroj, the head of the Commission’s fintech division said that relevant government parastatals were in the process of finalizing approval for the ICO portal.
Suppiroj did not provide the name of the approved ICO portal but said that it was being operated by a foreign-based company. According to Suppiroj, about eight…