Thai SEC Adds Acceptable ICO Token Trading Pairs: BCH, ETC and LTC Join BTC, ETH, XRP and XLM Coins
In Thailand, there are certain cryptocurrency regulations that determine exactly which assets are permissible to be used in initial coin offering (ICO) investments, along with trading pairs.
In December last year, the Thai Securities and Exchange Commission (Thai SEC) announced that there would be changes to current rules that kept ICOs from thriving, which would first be discussed in a public hearing.
Before now, the only tokens that the Thai SEC would allow to be applied to ICOs and trading pairs were Bitcoin, Ethereum, Ripple, and Stellar. Now, a new statement from the Thai SEC shows that the entity is allowing additional cryptocurrencies to be added to this lineup, which are Bitcoin Cash, Ethereum Classic, and Litecoin.
However, the statement is clear that, just because these tokens are listed as viable options for trading pairs and for ICOs, they are not considered legal tender within Thailand.
The country’s National Legislative Assembly made it possible to issue tokenized securities through the blockchain recently. To do so, the authorities had to submit and approve an amendment to the former Securities and Exchange Act, though the changes will not be officially implemented until later this year.
In January, the National Electronics and Computer Technology Center (NECTEC) of Thailand notified the public that they have modified the blockchain technology to meet the needs of e-voting as well. After 5G is adopted, the technology will be in charge of all voting protocols.