The securities and exchange Commission (SEC) of Thailand announced detailed information on the legislative basis for kriptoloji, licensing requirements, fees, and a list of the 7 approved Cryptocephalus. The new rules will come into force later this month. The SEC will authorize operations with 7 cryptocurrency to be used for the ICO, who will be traded as a trading pair. This list includes Ripple and Bitcoin, Cash Bitcoin, Ethereum, Ethereum Classic, Litecoin and Stellar.
Among the main criteria used by the SEC for evaluation and approval of cryptocurrency – consensual validity and liquidity.
Representatives of the SEC expect about a dozen companies apply for licenses to act as a crypto currency exchange, crypto-brokers and dealers. Applications for licenses, the Commission will accept until August 14. The Ministry of Finance of Thailand notes that apply can only be registered in Thailand company.
It is known that to obtain approval from the SEC, market participants must specify the type of tokens produced and information about investments. Portals ICO must have a registered capital not less than 5 million baht (156 625 US dollars) and to track the ICO for at least a year.
While sellers of unauthorized digital token-and those who organize unauthorized investments in cryptocurrency, will be fined in an amount not more than two times the cost of the transaction or at least 500,000 baht (15 619,88 dollars), or get a prison term up to two years.
Earlier, the Ripple has become a major asset of the new platform of the Japanese company SBI Holdings – VCTRADE. Also use Ripple for international transactions considering the giant American Express. Of the negative news is the second class action lawsuit against Ripple Labs. Price per coin XRP at the time of writing is $ 0,61, Ripple rate decreased by 7% for the day.
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