Crypto at a glance Thai Market Regulator Finalizes, ICO Regulations
Thai Market Regulator Thailand's Securities and Exchange Commission or SEC has finalized the new rules to regulate cryptocurrencies such as Bitcoin, as well as fund raising through Initial Coin Offerings
(ICOs) in the Southeast Asian country. The SEC has defined cryptocurrencies as "digital assets and digital tokens" under their regulatory jurisdiction. The law regulates both the trading and transacting of digital assets in the country.
The Thai SEC board of directors is scheduled to review the ICO regulatory framework tomorrow (March 8). One commenter said the SEC had an excellent grasp of the ICO market. The SEC has worked hard to embrace and encourage Fintech innovation recognizing the need to remain competitive in the global markets.
Expectations are for regulations to define standards for disclosure, reporting, security and use of funds. Of course, AML and KYC items will be at the top of the list as the intent is to stop fraud and illicit activities.