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The securities agency of Thailand is planning a public hearing in order to loosen the rules that constitute a "barrier" to the initial coin offerings (ICO), local press release in English that Bangkok Post reported December 20th.
Thailand – which issued a royal decree to regulate its domestic cryptocurrency markets in May – had revealed its intention to license its first ICO portal in November and an ICO itself this month.
Now, the rules for issuers to start raising funds may become less stringent, even if there will be limits to participation.
"The proposed guideline is an attempt to find greater balance in the regulatory process and reduce regulatory barriers, taking into account risk management and investor protection", quotes Tipsuda Thavaramara, secretary general of the Thai Securities and Exchange Commission (SEC) as said:
"The proposed criteria may not be completely completed, but it is a starting point for companies to proceed accordingly."
Plans come at a troubled time for the ICO industry worldwide. In the United States, regulators have blocked legal adhesion in recent months, last month fined several well-known cryptocurrency companies for failing to comply with the securities laws.
Barry Silbert, founder and CEO of the investment giant focused on the Digital Currency Group blockchain, told the mainstream media earlier this month that the ICO market was "dead" and "finished".
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