Thailand's Watchdog to Amend Royal Decree on Digital Asset Businesses
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Nov. 25, 2019
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Thailand's Securities and Exchange Commission (SEC) wants to amend the royal decree on digital asset business to boost the growth of digital assets, Bangkok Post reports citing Ruenvadee Suwanmongkol, secretary-general of the SEC.

Thailand Regulator Sees Threat in Cryptocurrencies

According to Ruenvadee, the watchdog wants to find out whether the royal decree "has any areas that are stumbling blocks to digital asset businesses."

"The regulator must be flexible to apply the rules and regulations in line with the market environment. For example, laws should not be outdated and should serve market needs, especially for new digital asset products, and be competitive with the global market. We need to explore any possible obstacles," said Ruenvadee.

The SEC representative claims many companies are ready to apply the state requirements to receive the status of official token digital issuers. However, cryptocurrencies and the ICO campaigns must be offered to the public through a special, authorized by the SEC, ICO portal companies.

Previously iHodl reported that a subsidiary of the Thai financial services firm, SE Digital Co, officially obtained approval from the SEC to fully operate in Thailand as an Initial Coin Offering (ICO) portal.

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