Companies offering token sales and exchange services are hurrying to apply for new digital assets licenses just weeks after they were announced. According to a news report in the Bangkok Post, 20 crypto exchanges had already registered for licenses.
A new set of regulations for ICOs came into effect in mid-July. These new regulations state that projects offering crypto exchange services must have an approval from the SEC before trading starts. The SEC claims that nearly 50 ICOs plan to register and conduct compliant token sales in Thailand.
Before granting a license, the SEC must select so-called “ICO portals” - online marketplaces where ICO issuers can conduct their token sales. Three of five companies in total that plan to become ICO portals have already filed applications.