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Thailand’s Former Finance Minister Supports Crypto and ICO Regulations

Thailand crypto regulations

Korn Chatikavanij former finance minister of Thailand has recently come up to favor new regulation on crypto and ICO’s, He was country’s finance minister between the end of 2008 and mid-2011.

Now, he has become the chairman of The Thai Fintech Association, In an interview last week that his organization supports the Thailand Securities and Exchange Commission’s plan to introduce dedicated rules for activities around the tech.

“I agree with the Finance Ministry’s [view] of letting the SEC be the only organization governing digital assets because it already oversees securities and has a profound understanding of digital assets,” said Korn

His comments came after a months-long public consultation period that was extended twice past its original completion date of January 22nd. One possible outcome of the review process is a plan to apply existing “investment participation” rules to token sales, which would impose capital requirements on those conducting ICOs within Thailand.

His remarks came following a months-long open counsel period that was expanded twice past its expected date of January 22nd. One conceivable result of the audit procedure is a plan to apply existing “venture investment” guidelines to token sales, which would force capital necessities on those directing ICOs inside Thailand.

Following the completion of the public consultation period and a joint meeting with government officials last Wednesday, state agencies in Thailand indicated they have agreed to enact a regulatory framework on cryptocurrencies and ICOs within the next month, as per the Post.

Authorities have proposed such a course of events in past remarks to the media, including deputy prime minister Somkid Jatusripitak, who said in mid-February that new rules expected in coming weeks.

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