The administration of Thailand legalized the legal standards for the ICO. The regulations states in order to obtain SEC authorization, a company must be registered in Thailand, have an authorized capital of at least $ 150,000 and, with a primary placement, assign a denomination of a token not exceeding $ 9050. Number of tokens does not matter, however their exchange is possible only for 7 cryptocurrencies (Bitcoin, Ethereum, Ripple, Bitcoin Cash, Ethereum Classic, Stellar and Litecoin) or Thai baht.
Thailand is now the 14th country where it is possible to register a company for ICO. The other countries that allow ICO or virtual assets with wide arms are:
- Australia
- Switzerland
- Malta
- Singapore
- Philippines
- Estonia
- USA
- Japan
- Gibraltar (without the GFSC license),
- UAE (without the DFSA license)
- Czech Republic
- Cambodia
- Russia
These countries have a stipulated set of regulations laid down for established crypto currency start-ups. There are countries like Mauritius, Bermudas, Malaysia, India, Honkong, Kazakhstan and many more are in the process of adopting standards for the ICO.
Don't you think it is not late when we see participation globally?