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The Thai Securities and Exchange Commission (SEC), the country’s key cryptocurrency regulator, has revealed the number of companies which have applied to operate initial coin offering (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 this year. Moreover, 12 more portals are interested but have not formally applied for a license.

Furthermore, the SEC will set up a committee of ICO experts and SEC representatives to oversee ICOs and ICO portalsswisssoft bitcoin casino cost bitcoin wallet for casino >Firm Issuing Token Without Permit

The SEC issued a public warning last week about DB Hold Plc soliciting investments in stocks and a token without approval after receiving inquiries from investors concerning 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 sum of 500 million baht (~US$15,346,130).

The SEC says that it has ordered the company to stop all actions related to the issuance of this token. The regulator reiterates that no company has been granted approval to issue new tokens. Companies that launched their tokens prior to the adoption of the crypto regulations of the country , however, are exempt from having to apply for a license.

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 business 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 about 1.70 baht (~$0.05) within 6 weeks of launch, Mgr Online reported.

Adding to the loss of investor confidence is the allegation that a former Jventures executive has been involved in the bitcoin fraud case involving a well-known soap celebrity scamming the news outlet detailed, a Finnish bitcoinertop bitcoin casinos for us players bitcoin casino us players company has come up with a plan. Jmart is seeking permission from the Bank of Thailand and the SEC to use Jfincoin for payments in shops, starting with its Jmart stores. If approved, this coin are the first token that can be used for payments in the country, the publication conveyed.

What do you think of how Thailand is handling ICOs? Tell us in the comments section below.

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Source: bitcoincasinoreview.net