Published on July 5th, 2018 | by bitcoin0
Thailand’s Regulatory Committee introduces ICO regulations to implement on July 16
As a part of new regulations, ICO issuers will have to undergo a thorough screening by the SEC before being launched and open to retail investors.
The new regulation includes a two-tier vetting procedure with accredited “ICO portals” which will be looking into selecting the applicants to proceed further for the final ICO screening.
The SEC has also confirmed that each of the approved ICO operators can issue unlimited digital tokens to venture capital and private equity firms, institutional investors and ultra-high-net-worth individuals.
The regulatory agency will also scrutinize and look into these ICO portals’ management structure and plan of operations.
In May, the government announced to waive off 7% value-added-tax (VAT) while giving some relief to the local cryptocurrency investors.