ICO Portal Applications
The Thai Securities and Exchange Commission (SEC), the nation’s main cryptocurrency regulator, has shown the amount of companies which have applied to function initial coin supplying (ICO) portals in the country.
According to the Bangkok Insight, Mrs. Praopon Senanarong, the Assistant Secretary of the Thai SEC, said that the regulator is reviewing six applications for ICO portals, which are expected to be approved in the fourth quarter of the year. Moreover, 12 portals are interested but have not officially applied for a license.
The SEC will set up a committee of SEC agents and ICO pros to oversee ICO and ICOs portals in SeptemberBetcoin rating >Business Issuing Token Without License
The SEC issued a public warning last week about DB Hold Plc soliciting investments in shares and a token without approval after receiving inquiries from investors regarding the company and bitcoin casino no deposit bonus 2018.
After investigating, the SEC found that the company was soliciting investors through social media for company shares and pre-ICO tokens in the amount of 500 million baht (~US$15,346,130).
Emphasizing that DB Hold Plc is not authorized to issue tokens, the SEC says that it has ordered the company to cease all activities. Furthermore, the regulator reiterates that no company was granted approval to issue tokens. Companies that launched their tokens before the adoption of the crypto regulations of the country , however, are exempt from having to apply for a permit.
New Plan for First ICO by Thai Stock Exchange-listed Company
Jmart Plc is the first company listed on the Stock Exchange of Thailand to issue a token. The company issued Jfincoin through its subsidiary, Jventures Plc. Despite much effort, the coin’s value has dropped from 6.60 baht (~$0.20) per coin in February to approximately 1.70 baht (~$0.05) within 6 months of launching, Mgr Online reported.
Adding to the loss of investor confidence is the allegation that a Jventures executive was involved in the high-profile bitcoin fraud case involving a soap celebrity scamming the news outlet, a bitcoinerTrueFlip scam company has come up with a strategy that is new. Jmart is seeking permission from the Bank of the SEC and Thailand to use Jfincoin for payments in stores, beginning with its Jmart stores. This coin will be the first token that can be used for payments in the nation, if accepted, the book conveyed.
What do you think about the way Thailand is handling ICOs? Tell us in the comments section below.
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