Thailand’s Securities and Exchange Commission (SEC) expects to give an approval to the country’s first portal for initial coin offerings (ICOs) in November as then it is expected to authorize companies’ ICO processes in December.
A portal’s role will be to act as a financial adviser to companies planning to launch an ICO, examining the purpose and the business plans behind these offerings. ICOs must be considered by the portal prior to gaining approval from the regulator. The main goal is to provide clear information to investors.
Currently, only six exchanges and one company that is a cryptocurrency dealer (Coins Th.) have been granted temporary approval to operate in the country while their applications are being reviewed. All another fundraising through an ICO is still illegal.
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