Thailand's Securities and Exchange Commission is about to liberalize retail investment restrictions related to the initial sale of coins (ICO) to boost data investment.
Thai regulators want to lift the asset-backed ICO limit of about 300000 baht ($8800) per person and plan to allow broader investment in real estate and infrastructure-backed ICO, the SEC announced on March 30.
SEC shows that because of the improvement in financial markets and the digital economy, the new strategy is aimed at helping Thailand drive local technology trends, adding:
"the revision of the regulation aims to strengthen the reasonable supervision of the operation of digital assets and reduce the risks that may affect investors, operators of digital assets and the market."
SEC held a public hearing system for the lifting of investment restrictions, stressing that the new measures would increase investor leverage. The public consultation is scheduled to end on April 27.
The regulator plans to require digital asset operators to apply to SEC for approval when they expand to related businesses. SEC stressed that digital asset operators will also incur additional costs for complying with a new ICO policy and regulation.
Before the SEC clearly put forward this new proposal, Thailand has carried out some other regulatory changes to the digital asset sales market.
In early March, SEC's overall policy and regulation bill opened another public consultation, which would strictly prohibit logging in password companies to provide shares and credit transactions. Earlier, regulators launched a new data encryption hosting service, which is likely to require virtual asset service providers to create an intelligent management system for digital currency wallets to ensure property security.
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