Thailand’s Securities and Exchange Commission (SEC) has expanded its list of approved cryptocurrencies for use in initial coin offerings (ICOs) and as base trading pairs, according to an official statement from the SEC today.
These latest updates to the SEC’s approved list include Ethereum Classic (ETC), Litecoin (LTC), and Bitcoin Cash (BCH), joining Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Stellar (XLM) as cryptocurrencies that can be used in compliance with the country’s national regulations. The SEC reiterated that it does not, however, class any of the above as legal tender, as stipulated in its statement.
The decision comes in accordance with the Royal Decree on Digital Asset Business BE 2561 but does not accord either of the currencies a guarantee of any other status.
Thailand is slowly moving its policies in a pro-cryptocurrency direction, last December announcing a public hearing to attempt to remove the obstacles associated with holding ICOs whilst keeping investors protected. The SEC hopes to allow private ICOs to take place without the registration statements and draft prospectus’ that are currently required.
A recent amendment to the Securities and Exchange Act also allows for tokenized securities such as stocks and bonds to be issued via blockchain, effective later this year.
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