Thailand Central Bank confirms that cryptocurrency will be legalized for which all the regulatory powers of this sector will be given completely to the country’s ICO friendly SEC. The law would be finalized within this month.
Thailand SEC to regulate the crypto industry completely!
The Central Bank of Thailand has finally confirmed its plan to crypto regulation. The idea is to legalize them as a means of exchange. It has been revealed by the governor of the bank, Veerathai Santiprabhob that the meeting between the finance minister and deputy prime minister of the country and the related agencies have agreed to enact a new law where the cryptocurrencies will be regulated entirely.
It has been stated that this new law will grant the complete regulatory powers to the Securities and Exchange Commission (SEC) which is ICO favorable. This law is expected to be finalized by this month.
Reportedly, a few days back the deputy prime minister Somkid Jatusripitak said:
Rapee Sucharitakul, the secretary general of SEC has divulged that a royal decree will be looked on as a way to authorize the SEC in order to regulate cryptocurrency, exchanges, and ICOs among all the other aspects of the crypto market. The focus is for SEC to completely handle the crypto industry.