The Thai Securities and Exchange Commission (SEC), the country’s key cryptocurrency regulator, has revealed the amount of companies that have applied to operate first 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 software for ICO portals, which are expected to be accepted in the fourth quarter of the year. In addition, 12 portals are interested but have not formally applied for a license.
Moreover, the SEC will set up a committee of ICO experts and SEC agents to oversee ICO and ICOs portals in Septemberbitcoin casino exit scam benefits of bitcoin online 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 consent after receiving inquiries from investors regarding the company and bitcoin casino no deposit bonus 2018.
After investigating, the SEC found that the company has been soliciting investors through social media for company shares and pre-ICO tokens in the sum of 500 million baht (~US$15,346,130).
Emphasizing that DB Hold Plc isn’t authorized to issue tokens, the SEC claims that it has ordered the company to stop all activities. The regulator reiterates that no firm was granted approval to issue tokens that are new. Companies that launched their tokens before the adoption of the country’s crypto regulations, however, are exempt from having to apply for a license.
Jmart Plc is. The business issued Jfincoin through its subsidiary, Jventures Plc. Despite much effort, the coin’s value has fallen from 6.60 baht (~$0.20) per coin in February to approximately 1.70 baht (~$0.05) within 6 months of launching, Mgr Online reported.
Adding to the loss of investor confidence is the allegation that a Jventures executive has been involved in the high-profile bitcoin fraud case involving a soap celebrity scamming the information outlet, a Finnish bitcoinerFortune Jack review company has come up with a strategy. Jmart is seeking permission from the Bank of the SEC and Thailand to use Jfincoin for payments in stores, beginning with its own Jmart stores. If approved, this coin are the legal token which may be used for payments in the nation, the book conveyed.
What do you think of the way Thailand is handling ICOs? Let us know in the comments section below.
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