On July 4, 2018, the Securities and Exchange Commission (SEC) released two regulatory papers covering the issuance and sale of digital tokens via initial coins offerings (ICOs) and the requirements for approval of digital asset businesses (ICO portals). The aim is to regulate the licit use of digital assets, enhancing investor protection against fraud while preventing their use for money laundering purposes.
The regulations follow public consultations previously carried out and are aligned with the principles provided by Royal Decree on the Digital Asset Businesses B.E. 2561 (2018). According to the decree, digital token offerings must be approved by the SEC and conducted via an approved service provider (ICO portal).