On July 4, Thailand has confirmed its long-awaited ICO regulations will come into effect July 16.
The new regulation will take the form of a two-tier vetting procedure, with accredited “ICO portals” in charge of selecting applicants to pass to the Thai Securities and Exchange Commission (SEC) for a final screening.
Once approved by an ICO portal, the SEC will begin to consider applications for the issuance and sale of digital tokens for ICOs.
Potential Thai ICO operators must comply with a range of prerequisites before applying, including minimum capital of 5 million Thai baht ($150,000) and the ability to fully disclose aspects of technical functionality and investment plans.
