Central Bank of Thailand announces the Comprehensive Bill on Digital Money and ICO in April 2018

Thailand's central banker has confirmed an upcoming law to "fully regulate" digital money when a former Thai finance ministe...

Thailand's central banker has confirmed an upcoming law to "fully regulate" digital money when a former Thai finance minister offered support for the idea. This.

Bank Governor Veerathai Santiprabhob disclosed details of the meeting between Deputy Prime Minister, Finance Minister and related agencies last week, where managers were reported to have agreed to "ban Takes a new law to regulate the comprehensive "digital money.
The central bank governor added that the new law - which would consider granting the Securities and Exchange Commission (SEC) of Thailand an ICO-friendly full regulatory mandate - is expected to completed after one month.
To achieve this goal, Secretary General SEC Rapee Sucharitakul has revealed that a 'royal decree' is seen as a way to empower the SEC to regulate 'all aspects' of the electronic money industry. including trading floors and fund raising ICOs.
As reported in September, the SEC of Thailand has shown an encouraging outlook for the ICO, insisting it "recognizes the potential of the ICO" in introducing new forms of financing for businesses. and startup. The ICO draft of SEC Thailand has received public comments lasting for many months, two late appointments compared to the deadline of 22/01 was originally proposed.
The idea has received support from a former Thai finance minister and supporter of Fintech, Korn Chatikavanij. Korn served as Thailand's finance minister from 2008 to 2011, after giving a path to the economy through the global financial crisis of the time. The current Democrat politician is the chairman of the FinTech Association of Thailand, a company that promotes startup support in Bangkok, as well as a test lab for startups. domestic school.
In an interview last week, the chairman talked about the discussions between the agency and SEC Thailand, the Bank of Thailand (central bank) and the Ministry of Finance, focusing on regulations for the money sector. Digital by SEC.
Speaking to the Bangkok Post, Korn disclosed that the SEC, not the finance ministry or the central bank, was the only agency responsible for regulating the industry, the Bangkok Post quoted Korn as saying. :

I agree with the Treasury's view that the SEC is the only government agency that oversees digital assets, because they now take on the responsibility of managing the stock market and have extensive knowledge. about electronic assets.
The former finance minister added:

Digital assets are new to everyone, and no one knows everything about them, so all parties must be open about them and have rules and regulations. fit.
So far, market participants have "jumped on board" with the SEC's mandatory "investment participation", in which ICO operators have to be registered on the ICO's Thailand portal. , with a minimum registered capital of 5 million baht (or $ 160,000).

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High Tech Brain: Central Bank of Thailand announces the Comprehensive Bill on Digital Money and ICO in April 2018
Central Bank of Thailand announces the Comprehensive Bill on Digital Money and ICO in April 2018
High Tech Brain
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