STEEMIT NEWS (Bangkok) - Thailand will issue rules on crypto currency or virtual currency, as well as the issuance of initial coins (ICO) as of April.
This is done to protect investors. The statement was presented by the Thai Securities and Trading Commission on Thursday (29/3/2018) local time.
The commission, represented by Secretary General of the Commission of Rapee Sucharitakul, said that the tightening of the virtual currency market also involves the military.
"This market is very special and this is not for ordinary people," he said, as quoted by Bloomberg.
ICO and virtual currency trading platform will certainly be difficult to develop with the new beleid. Details about this regulation will be presented next after the rule is ratified the kingdom.
Currently, the turnover of the crypto currency in Thailand is in the gray area, although neighboring countries such as Indonesia and China have issued clearer and tighter rules regarding virtual currency.
Doc Bitcoin.com mentions in 2017 as much as 46 percent of startup tokens fail after ICO because it can not complete the funding. While this year, 50 of 340 ICOs also failed, according to data from Token Data.
OOkbee Co., Jaymart Pcl, and Omise Co are examples of Thai companies seeking funding through virtual currency.