In its latest statement, The Securities and Exchange Commission, Thailand (SEC Thailand), announced that some ICOs may be considered securities, with all the relevant regulation applicable.
Except for stating that “some (ICOs) may resemble financial returns, rights and obligation,” SEC Thailand noted that that fraud is a possibility in some of the token sales. Furthermore, the commission suggested that guidelines for token sales might be coming, though no details have been revealed.
“The SEC Thailand encourages access to funding for businesses, including high potential tech startups, and realizes the potential of ICO in answering startups’ funding needs. In cases where an ICO constitutes an offering of securities, the issuer will need to comply with applicable regulatory requirements under the SEC Thailand’s purview,” reads the statement.