Thailand's regulator, the Securities and Exchange Commission (SEC), has just authorized the country's first ICO portal, the local publication Bangkok Post reported yesterday.
The Thai SEC has given green light to this new portal, which will allow to screen ICOs, conduct due diligence, prove smart contract source codes and conduct user verification processes (KYC).
Apparently, the ICO portal will be operated by a foreign company. However, tha name of the operator has not been shared.
According to Archari Suppiroj, director of the regulator's fintech unit, "the country's first ICO portal is almost ready and will soon be officially approved by the relevant government institutions."
Archari believes that the ICO market has significantly evolved since its first days. The regulator has also said that in the future it will issue a series of criteria that will allow companies to tokenize securities as well as other assets.
Why it is important
- Thailand is actively working in the development of the crypto and blockchain industry. For example, just a few days ago the country's regulator extended its list of approved cryptocurrencies.
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