ICO Portal Software
The Thai Securities and Exchange Commission (SEC), the country’s key cryptocurrency regulator, has shown the amount of companies which have applied to function 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 ruler is reviewing six applications for ICO portals, which are expected to be approved in the fourth quarter of the year. Moreover, 12 portals are interested but have not officially applied for a license.
Furthermore, the SEC will set up a committee of SEC agents and ICO experts to oversee ICO and ICOs portalsTrusted ETHEREUM SWEEPSTAKES casino >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 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 business shares and pre-ICO tokens in the amount of 500 million baht (~US$15,346,130).
The SEC claims that it has ordered the company to stop all activities related to the issuance of the token. Moreover, the regulator reiterates that no company was granted approval to issue tokens. Firms that launched their tokens before the adoption of the nation’s crypto regulations, 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 fallen from 6.60 baht (~$0.20) per coin in February to about 1.70 baht (~$0.05) within 6 weeks of launch, Mgr Online reported.
Adding to the loss of investor confidence is the allegation that there has been a Jventures executive involved in the bitcoin fraud case involving a soap celebrity scamming the news outlet detailed, a bitcoiner business has now come up with a new plan. Jmart is currently seeking permission from the Bank of the SEC and Thailand to use Jfincoin for payments starting with its Jmart stores. This coin are the first legal token which may be used for payments in the country, if approved, the publication conveyed.
What do you think of the way Thailand is handling ICOs? Let us know in the comments section below.
Pictures courtesy of Shutterstock.
Have to compute your bitcoin holdings? Check our tools section.
Source: bitcoincasinoreview.net
