Thai SEC wants to lift restrictions on Initial Coin Offerings

Thailand’s Securities and Exchange Commission (SEC) is preparing to ease retail investment restrictions related to Initial Coin Offerings (ICO) to boost digital investment.

Thailand wants to stimulate local technological growth

Thailand’s securities regulator is willing to lift the 300,000 baht ($8,800) limit on asset-backed ICOs per person. Also, it plans to allow larger investments in real estate and infrastructure-backed ICOs. This made the SEC of Thailand officially known on March 30.

The new measures are designed to help Thailand boost local technology development as a result of growth in the capital market and digital economy, the SEC said, adding:

The regulatory review aims to improve the effective monitoring of digital asset transactions. It should also reduce risks that could affect investors, operators of digital assets and the market.

The SEC opened a public hearing on the plan to lift the investment cap, noting that the new measures would increase investors’ risk exposure. The public consultation will run until April 27.

The regulator plans to require digital asset operators to seek approval from the SEC to expand into other companies. Digital asset operators may also incur additional costs for compliance with new ICO regulations, the SEC noted.

Regulatory changes targeting digital assets

The latest proposal from Thailand’s SEC follows a number of other regulatory changes aimed at the country’s digital asset market.

In early March, the SEC launched another public consultation on its draft regulation that would ban crypto companies from offering staking and lending transactions. Earlier, the regulator also introduced new cryptocurrency custody services, which may require virtual asset service providers to set up a digital wallet management system to ensure the safety of funds.

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