THELOGICALINDIAN - Thailands Security and Barter Commission SEC has banned Bitcoin Cash BCH Litecoin LTC and Ethereum Classic ETC for use by Initial Coin Offerings ICOs in fundraising and as abject brace on cryptocurrency barter platforms
Bitcoin Cash, Litecoin, and Ethereum Classic Blacklisted
Contrary to letters authoritative the ambit on the cryptocurrency account circuit, regulators in Thailand accept removed three cryptocurrencies from the account of accustomed tokens for ICO fundraising and basic bill trading. The Thai SEC appear the account in a press release appear on its website on Thursday (February 28, 2019).
An extract from the account reads:
Following the announcement, BCH, LTC, and ETC are no best acceptable for use in ICOs. Also, cryptocurrency barter platforms in the country cannot use as abject pairs for trading added basic currencies.
The account did not action any acumen for abatement of these three cryptocurrencies but declared that its accommodation did not bulk to an endorsement or abolishment of any crypto. Also, the Thai SEC maintained that its accommodation would accept no appulse on investors anticipation from the actuality that crypto exchanges in the country do not account the blacklisted tokens as abject pairs and ICOs were yet to booty off in the country.
Back in August 2018, Bitcoinist appear that about 50 ICO projects had signaled absorption in accepting licenses from the SEC. From May 2018, regulators in the country began to booty accomplish to actualize assured regulations for Thailand’s cryptocurrency market.
Thailand: SEC Wants Standardized Data Submission
Concerning the enactment of a able-bodied authoritative framework for cryptocurrencies, the Thai SEC is additionally set to adapt the advertisement standards for cryptocurrency businesses. The authoritative babysitter issued a press statement on Friday (March 1, 2019) calling on stakeholders to accommodate ascribe on a proposed connected set of rules for abstracts acquiescence by cryptocurrency brokers and barter platforms.
According to the columnist release, the SEC requires two abstracts classes – transaction abstracts and contour data. Transaction abstracts will beset trading volume, deposits, withdrawals, and amount amid others. For contour data, the Thai SEC says it is absorbed in wallet addresses, annual numbers, and added advice about badge issuers.
Commenting on the charge for a accepted set of rules for abstracts acquiescence in the industry, the Thai SEC said:
The Thai SEC says stakeholders accept until March 13, 2024, to abide their opinions on the matter.
Why do you anticipate the Thailand blacklisted these three cryptocurrencies? Let us apperceive your thoughts in the comments below.
Image address of Twitter (@ThaiSEC_News), Shutterstock
