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Thailand set to launch an ICO portal to individually vet new ICOs

09 Nov, 2018
by Richard Allen
News
Thailand set to launch an ICO portal to individually vet new ICOs

According to the Bangkok Post, the Thai Securities and Exchange Commission is in the process of launching its first regulated ICO portal this month. Once the portal is up and running, each ICO will be vetted individually prior to being added to the portal.

While there is no specific time frame yet, the portal is expected to be certified this month with the first authorized ICO offering potentially available in December. SEC secretary-general Rapee Sucharitakul said:

"At least one ICO portal will be certified in November, then we can approve each ICO offering, which might start in December."

The launch of an ICO portal is expected to help in determining the legitimacy of ICOs, help investors conduct due diligence and ensure that KYC policies are being enforced.

While the country has generally taken a cautious stance regarding cryptocurrencies, In August, the Bank of Thailand announced it had begun development of a central bank digital currency, suggesting that Thailand is open to the idea of cryptocurrency, just so long as they play by their rules.

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