Thai regulators have cracked down on cryptocurrency and blockchain this year, and if they go through their latest plan, the industry will continue to consolidate.
The Thai Securities and Exchange Commission (SEC) is preparing to launch The first regulated ICO (Initial Coin Offer Portal) portal will be released this month, according to the Bangkok Post.
It seems that ICOs are checked on a case-by-case basis and added to the portal shortly after launch. A fixed date has not yet been mentioned.
"At least one ICO portal will be certified in November, then we can approve any ICO offer that may start in December," said SEC Secretary General Rapee Sucharitakul Bangkok Post.
The Thai regulators believe that regulated ICO portals will check their legitimacy, assist investors with due diligence, and ensure that Know-Your-Customer (KYC) policies are applied.
I was scared of rolling up my sleeves and entering the cryptocurrency industry. Earlier this year, the Bank of Thailand set up plans for a government-sponsored cryptocurrency.
The plans explained how the project will be built on Corda, a closed and centralized distributed ledger. It seems that Thailand is doing well with cryptocurrency as long as it is on their terms.
Published 09. November 201