• Sat, 25 May 2019, 03:42 PM
  • All times are UTC
  • Edition:
Link copied

Interest to apply for ICO and digital asset exchange licenses surges in Thailand

Thu, 09 Aug 2018, 05:36 am UTC

The number of projects interested in applying for licenses to conduct initial coin offerings (ICOs) and to operate digital asset exchanges has surged after the digital asset licensing went into effect in Thailand, the Bangkok Post reported.

Thai SEC secretary-general Rapee Sucharitakul said last month the SEC was open for application approval for operating a digital asset business, as the Finance Ministry's announcement on digital asset licenses came into force.

Sucharitakul said that since digital asset licensing took effect, around 50 ICO projects have shown interest in receiving a proper license from the authorities, but said that it is uncertain if all of them would be authorized to raise funds. He said that three out of five ICO portals have already submitted their applications to the SEC.

Rapee further pointed out that around 20 companies have applied for licenses to operate as digital asset exchanges.

“License approvals are being processed,” Sucharitakul said. “Many companies interested in opening digital asset exchanges have said digital assets and cryptocurrency trading in the Thai market are quite active.”

After receiving the applications from the interested firms, the SEC will forward the documents to the Finance Ministry within 90 days. Thereafter, the Finance Ministry will decide whether or not to approve an application depending on a number of factors.

According to the report, firms seeking a license to operate as digital asset exchange must have, among other things, paid-up registered capital as stipulated and sound financial status.

<Copyright © TokenPost. All Rights Reserved. >

The commenting service is available only after having logged in.
  • Bitcoin (BTC) $8,060.93 (-0.09%)
  • Ethereum (ETH) $252.04 (-0.42%)
  • XRP (XRP) $0.387700 (-0.57%)
  • Bitcoin Cash (BCH) $408.55 (-2.09%)
  • Litecoin (LTC) $101.84 (+1.95%)
  • Bitcoin (BTC) $8,060.93 (-0.09%)
May 24, 2019 (Friday)
Crypto Technicals: ETH/USD retraces above 1H 200-SMA, 'Hammer' on daily charts signals further gains
German engineering giant Bosch trials Ethereum blockchain
Crypto Technicals: BTG/USD grinds higher along 21-EMA, breakout at 61.8% Fib (25.74) will accentuate gains
Bank of Russia to review proposal on gold-backed cryptocurrency
Blockchain software firm Unstoppable Domains raises $4M from Draper Associates, Boost VC
Crypto Technicals: LTC/USD bounces off 21-EMA support, next bull target $109
Robinhood Crypto is now in New York
Facebook to launch its cryptocurrency 'GlobalCoin' in Q1 2020: Report
California resident sued for alleged $26M crypto Ponzi scheme
AT&T teams up with BitPay to become the first telecom to accept cryptocurrency payments
Rep. Swalwell accepting bitcoin donations in bid for US presidency
Grayscale receives FINRA approval to open Ethereum Trust to individual investors
Indian telco Airtel selects IBM for blockchain-based pan India anti-spam call solution: Report
Binance CEO CZ seeks compensation for reputational damage from Sequoia
Overstock.com’s blockchain subsidiary signs MOU with Lusaka city to develop land governance platform
Toyota, University of Tokyo, TRENDE to start testing blockchain-based electricity trading solution
Russia's NSD to roll out security token blockchain in June
May 23, 2019 (Thursday)
Crypto Technicals: IOT/USD holds 21-EMA support, retrace till 0.3185 (200-DMA) likely on break below
Coinstar extends bitcoin buying service to 21 US states
Crypto Technicals: BTC/USD bounces off session lows with 'Hammer' formation, bias neutral
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.