The SEC will Become Authoritative Power over Cryptocurrency in Thailand
Mr. Korn, Chairman of the Fintech Association, has backed the choice for the Securities and Exchange Commission to be the regulatory body responsible for ICO’s in Thailand. They have had a “long time involvement” in the development of virtual currency in Thai markets, says Mr. Korn.
Other participants in the market have also agreed that the SEC should be in charge and with their notion that ICO’s need to be regulated by a dedicated portal that is based in Thailand. The SEC is currently drafting up a regulatory framework and the new law that will establish the SEC as the regulatory body will be announced later this month, says Thailand’s central bank chief.
The SEC has also recognized that in order for the law to be given regulatory power, it must also be empowered by a royal decree.
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