Rapee Sucharitakul, SEC secretary-general, said that at least one ICO portal is expected to get the greenlight soon, while a digital asset exchange platform is awaiting approval from the Ministry of Finance.
About four to five digital asset exchange operations are being proposed to the ministry.
ICO portal service acts as a financial adviser to companies planning to launch an ICO. Its role is to examine the purpose of an ICO launch and the business plans of the companies planning these offerings.
“At least one ICO portal is expected to gain approval by the end of November . All processes for issuing licences to up to five operators of digital assets exchange have been presented to the finance minister. And the approval process for ICO is expected to begin in December,” Rapee said.
He insisted that fund raising through an ICO is still illegal and the SEC has issued warnings to investors on the associated risks every time a complaint was |made.
The key for an ICO approval lies in providing clear and easy-to understand information to investors, he said.
In regard to long term equity funds (LTFs) whose tax privilege will end at the end of next year, Rapee said that investors’ mindset need to be changed as long-term equity investment will still be given tax waiver.
Rapee said the list of candidates for the position of SEC secretary-general has been sent to the Ministry of Finance after receiving approval from the SEC board last month, adding that. he will not apply for another term after his current tenure ends in May next year.
“I’ve not thought about what I will do after my term, due partly to a regulatory requirement that I must not be involved in capital market activites for two years,” he said.