Thai SEC Bans 3 Cryptocurrencies from ICO Investment decision, Investing Pairs

Thailand’s economic markets regulator has banned several cryptocurrencies as a implies to commit in ICOs and as a base in buying and selling pairs.

The country’s Securities and Trade Commission (SEC) issued rules very last July, mandating that any entity seeking to conduct a token sale must first file for an software for its acceptance. At the time, the SEC said that only Thailand’s national currency, the baht, and 7 cryptocurrencies can be utilized to commit in ICOs: bitcoin (BTC), bitcoin money (BCH), ether (ETH), ether traditional (And many others), litecoin (LTC), XRP and stellar (XLM).

In an announcement Thursday, the SEC said it has now taken off bitcoin money, ether traditional and litecoin from the list of suitable cryptocurrencies. As a outcome, only the remaining 4 cryptocurrencies are permitted it said, with a reminder that the list is “not a certification of their legal tender standing.”

The watchdog did not provide any detail as to why the list has been lessened, although it said it usually takes into account distinct aspects these as information and other developments connected to tokens.

“In any case, the list update has no impression on buyers or electronic asset businesses mainly because so considerably no ICO has been introduced and the functioning electronic asset exchanges have under no circumstances utilized BCH, And many others or LTC as base buying and selling pairs,” the SEC said.

The regulator included that it offers the list of suitable cryptocurrencies in compliance with the Unexpected emergency Decree on Electronic Asset Businesses B.E. 2561 (2018).

Last week, the country’s Nationwide Legislative Assembly accepted an amendment to the Securities and Trade Act legalizing the issuance of tokenized securities these as stocks and bonds.

Thai baht impression by means of Shutterstock