Many crypto-coins have been outlawed by Thailand’s financial markets regulator, as a way to finance ICOs and as a base in trading sets. Three Cryptocurrencies Banned by Thai SEC From ICO Investment.

Last July the nation’s Securities and Exchange Commission (SEC) issued regulations. It ordered that anyone trying to direct a token deal must apply for its approval. The only currencies approved by Thailand’s SEC for ICO funding at the time were:

  • -Bitcoin (BTC)
  • -Bitcoin money (BCH)
  • -Ether (ETH)
  • -Ether great (ETC)
  • -Litecoin (LTC)
  • – XRP
  • -Stellar(XLM)

In a declaration Thursday, the SEC announced it has now banned bitcoin cash, ether classic and litecoin from the category of qualified digital currencies. Subsequently, the only legal digital currencies are the remaining four. The SEC reminded that being on the list is not a confirmation of their legitimate tender status.

The regulator did not give any details with respect to why the list has decreased. The only information revealed was that it considers diverse factors, including news and different advancements identified with tokens.

The SEC said that the list update had no effect on investors or digital asset businesses. This reason given: “because so far no ICO has been launched and the operating digital asset exchanges have never used BCH, ETC or LTC as base trading pairs”.

The regulator included that it gives the checklist of qualified cryptographic forms of money in accordance with the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018).

A week ago, the nation’s National Legislative Assembly endorsed an alteration to the Securities and Exchange Act sanctioning the issuance of tokenized securities like stocks and bonds.

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