ICO Portal Applications

The Thai Securities and Exchange Commission (SEC), the nation’s main cryptocurrency regulator, has revealed the number of businesses which have applied to operate initial coin supplying (ICO) portals in the country.

According to the Bangkok Insight, Mrs. Praopon Senanarong, the Assistant Secretary of the Thai SEC, said that the ruler is reviewing six applications for ICO portals, which are expected to be approved in the fourth quarter of this year. In addition, 12 more portals are interested but have not officially applied for a permit.

The SEC will set up a committee of ICO experts and SEC agents to oversee ICO and ICOs portalsbitcoinrush scam >Firm Issuing Token Without License

The SEC issued a public warning last week about DB Hold Plc soliciting investments in stocks and a token without approval after receiving inquiries from investors concerning 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 business shares and pre-ICO tokens in the sum of 500 million baht (~US$15,346,130).

The SEC says that it has ordered the company to cease all activities. Moreover, the regulator reiterates that no company has been granted approval to issue tokens. Companies that launched their tokens before the adoption of the crypto regulations of the country , however, are exempt from having to apply for a license.

New Plan for First ICO by Thai Stock Exchange-listed Company

Jmart Plc is the first company listed on the Stock Exchange of Thailand to issue a token. The company issued Jfincoin through its subsidiary, Jventures Plc. Despite much effort, the coin’s value has dropped 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 there has been a former Jventures executive involved in the high-profile bitcoin fraud case involving a well-known soap actor scamming a bitcoinerbitcoin online casino bonuses bitcoin casino free spins usa business has now come up with a new plan. Jmart is currently seeking permission from the Bank of Thailand and the SEC to use Jfincoin for payments beginning with its Jmart stores. If accepted, this coin will be the first token which can be used for payments in the nation, the book conveyed.

What do you think about the way Thailand is managing ICOs? Tell us in the comments section below.

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Source: bitcoincasinoreview.net