Previous Thai Finance Minister Phone calls for Crypto Regulation

A previous finance minister of Thailand has voiced his support for new rules close to cryptocurrency investing and original coin offerings (ICOs).

Korn Chatikavanij previously served as the country’s finance minister between the end of 2008 and mid-2011. Now chairman of The Thai Fintech Association, a startup accelerator, he explained in an interview last week that his group supports the Thailand Securities and Exchange Commission’s approach to introduce committed rules for pursuits close to the tech.

“I agree with the Finance Ministry’s [view] of allowing the SEC be the only group governing digital property, simply because it by now oversees securities and has a profound knowledge of digital property,” explained Korn, according to a Friday report by the Bangkok Publish.

His reviews came immediately after a months-long community session time period that was extended two times previous its initial completion day of January 22nd. A single feasible consequence of the critique process is a approach to apply current “investment decision participation” rules to token revenue, which would impose money necessities on people conducting ICOs in just Thailand.

Following the completion of the community session time period and a joint assembly with govt officers last Wednesday, point out agencies in Thailand indicated they have agreed to enact a regulatory framework on cryptocurrencies and ICOs in just the up coming thirty day period, per the Publish.

Officials have instructed these types of a timeline in previous reviews to the media, together with deputy key minister Somkid Jatusripitak, who explained in mid-February that new rules should be anticipated in the coming weeks.

Thai baht and bitcoin graphic via Shutterstock

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