The Thai Securities and Exchange Commission (Thai SEC) updated its lists of cryptocurrencies that are suitable for use in initial coin offering (ICO) investments and trading pairs. As per the official Thai SEC statement released on Feb. 28.
Until now, Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Stellar (XLM) were part of the list that complies with the regulation in Thailand. According to the statement, the Thai SEC has added Bitcoin Cash (BCH), Ethereum Classic (ETC) and Litecoin (LTC) into the list. The statement also notes that the presence of any given crypto asset in the list does not render it a legal tender.
Thailand is becoming Crypto-friendly
Just recently, Thailand’s National Legislative Assembly officially approved the issuance of tokenized securities on blockchain through an amendment to the Securities and Exchange Act. The new regulations will come into effect later this year.
In addition, the National Electronics and Computer Technology Center (NECTEC) of Thailand announced that they are developing a blockchain platform for e-voting. According to the announcement made in January by the NECTEC, once 5G is eventually adopted, all votes will be connected with the new technology.
Last year in December, the Thai SEC announced its plan for a public hearing with the aim of loosening rules that form a barrier to ICOs.