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The Thai Securities and Exchange Commission (SEC), the nation’s key cryptocurrency regulator, has shown 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 applications for ICO portals, which are expected to be approved in the fourth quarter of the year. In addition, 12 portals are interested but have not formally applied for a license.

The SEC will set up a committee of SEC agents and ICO pros to oversee ICOs and ICO portals in Septemberbest bitcoin casino app bitcoin white label casino >Business Issuing Token Without Permit

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 firm was soliciting investors through social media for company shares and pre-ICO tokens in the amount of 500 million baht (~US$15,346,130).

Emphasizing that DB Hold Plc is not authorized to issue tokens, the SEC claims that it has ordered the company to stop all actions. Furthermore, the regulator reiterates that no company has been 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 permit.

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 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 a former Jventures executive has been involved in the high-profile bitcoin fraud case involving a well-known soap actor scamming the news outlet detailed, a Finnish bitcoinerOshi best bitcoin casinow company has come up with a plan. Jmart is seeking permission from the Bank of Thailand and the SEC to use Jfincoin for payments starting with its Jmart stores. If accepted, this coin will be the first legal token that may be used for payments in the nation, the publication conveyed.

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

Images courtesy of Shutterstock.

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Source: bitcoincasinoreview.net

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