The latest proposal by the SEC of Thailand follows a series of regulatory changes targeting the digital asset market in the country.
Thailand’s Securities and Exchange Commission (SEC) is preparing to ease the ban on investing in businesses related to initial coin offerings (ICOs) to promote digital investment.
Thailand’s securities regulator will raise the limit to 300,000 baht ($8,800) for property-backed ICOs, planning to allow large investments in real estate and property-backed ICOs, the SEC announced on March 30. The new system is intended to help Thailand promote regional technology development due to the growth of capital in the digital economy, the SEC said.
The SEC opened a public comment on the proposed removal of the investment limit, noting that the new system will increase the risk to investors. A public consultation is scheduled until April 27.
The regulator plans to require operators of digital assets to seek SEC approval to expand into other businesses. Digital asset operators may also incur additional fees to comply with new ICO regulations, the SEC said.
Thailand’s latest SEC proposal follows a number of other regulatory changes targeting the country’s digital assets market. In early March, the SEC released another public statement regarding a proposed rule that would ban crypto companies from offering and lending money. Earlier, the regulator also introduced a new crypto holding service, potentially requiring service providers to establish a digital wallet management system to ensure that funds are safe.
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