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Author Topic: #Thailand Approves Country's First ICO Portal  (Read 239 times)

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#Thailand Approves Country's First ICO Portal
« on: March 14, 2019, 05:17:45 AM »


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Thailand’s Securities and Exchange Commission rate (SEC) has reportedly approved the country’s first web site for initial coin choices (ICOs). The main reasons of those portals are often to screen tokens, execute due diligence, ensure task regularity with its whitepaper, and verify the know-your-customer process.

At the time of this writing, the SEC website still shows no ICO portal or ICO issuer has been approved. However , Archari Suppiroj, director of the fintech department at the commission, told the publication that “Thailand’s first authorised ICO portal is being finalised for official approval with the relevant government agencies like the Commerce Ministry. ”

The SEC, Thailand’s primary regulator of the crypto industry, detailed that interested ICO issuers should first be approved simply by an ICO portal just before trying to get approval with the particular SEC. Its website identifies eligible ICO investors. Apart from institutions and high internet worth individuals such since those with at minimum 70 million baht (~$2. 21 million) worth associated with assets or at minimum 25 million baht associated with investments, venture capital organizations and private equity money may also invest. In add-on, retail investors can commit up to 300, 1000 baht per ICO task.


 

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