The Securities and Exchange Commission of Thailand (SEC) said that they showed increased interest in licenses for the use of original coin offerings ( ICO ) after the announcement of the Ministry of Finance about the introduction of ICO rules , the Bangkok Post reported.
The Secretary General of the Securities and Exchange Commission told Bangkok Post that nearly 50 Ico Projects have expressed interest in obtaining certification, but it remains unclear whether all of them will have the appropriate authority to raise funds.
Rapi Sucharitakul added that three out of five ICOs interested in applying for licenses had already sent applications to the SEC . In addition, about 20 companies that seek to work as an exchange of Digital Assets have also applied for authorization. Rapi said:
“Now the license is being processed. Many companies interested in opening crypto-exchange exchanges said that digital assets and trading in crypto-currencies in the Thai market are quite active . “
The authorization process takes up to five months after the application is submitted, the SEC sends the document to the Ministry of Finance within 90 days. After that, the ministry has 60 days to decide whether to approve the license. Companies with digital assets that require approval should be based in Thailand, pay their share capital and be endowed with “reliable financial status”.
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