Thai Securities Regulators Seek 'Appropriate' Rules for ICOs

Securities regulators in Thailand have issued a new statement on initial coin offerings (ICOs), advising that some token tales may fall under the country's definition of a securities offering.

The Securities and Exchange Commission, Thailand (SEC Thailand) said today that that "some (ICOs) may resemble financial returns, rights and obligation," thus triggering the relevant regulations. It also expressed concern that, in some cases, token sales may be used to facilitate fraud against unwitting investors.

At the same time, SEC Thailand hinted at a more accommodative stance compared to other jurisdictions – mostly notably China, which issued a ban on the funding model earlier this month.

The agency said:

"The SEC Thailand encourages access to funding for businesses, including high potential tech startups, and realizes the potential of ICO in answering startups' funding needs. In cases where an ICO constitutes offering of securities, the issuer will need to comply with applicable regulatory requirements under the SEC Thailand's purview."

Read more @ the source: https://www.coindesk.com/thai-securities-regulators-seek-appropriate-rules-icos/