Thailand has adopted rules regulating cryptocurrency

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The Commission on securities and stock exchanges of Thailand has provided detailed information on the legal framework of the country for scriptactive and initial offers of tokens, including licensing requirements.

The adopted laws will enter into force at the end of this month. This message appeared after creation of the SEC in Thailand which will be responsible for the observance of cryptocurrency regulations.

According to the Deputy Secretary-General SEC Tipsuda Tavernari governing body is responsible for ICO, work bocarski firms, crypturi, traders and other persons involved in kriptonyte.

The SEC has permitted the use of seven cryptocurrencies for carrying out ICO, which will be offered in the trading pairs. This Bitcoin Eforum, Bitcoin, Cash, Litecoin, Classic Ethereum, Ripple and Stellar.

License

According to the Bangkok mail, the SEC expects that about 10 companies will apply for licenses, half of which will work as cryptomonas.

Now all market participants, including issuers ICO, cryptomeria and traders involved in scriptactive, necessarily it is necessary to register with the SEC within 90 days from the date of entry into force of the legislation and to obtain the consent of the Ministry of Finance to conduct business associated with the digital asset.

The Ministry of Finance has specified that only registered in Thailand, the company can apply for licenses.

Violation of the rules may be punished by a fine or imprisonment for a period up to two years.

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