The Securities and Exchange Commission has been chosen as the authoritative power over cryptocurrency regulation, due to the decades of experience it has had in the development of virtual currency in Thailand. They are currently in the process of drafting up guidelines for ICO’s, which should be ready later this month.

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In addition to the draft, a royal decree must also be passed to give the law regulatory power. Mr. Korn Chatikavanij, chairman of the Thai Fintech Association, has voiced his full support for the SEC to oversee the regulations as they already have a “profound understanding of digital assets”.

The SEC states that Thailand is an ICO friendly country and those involved in the digital currency market also agree that ICO’s need to be regulated through dedicated portal based in Thailand.

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Richter Frank-Jurgen