Regulator to shift oversight of ICOs to Securities Act

Regulator to shift oversight of ICOs to Securities Act

Measure will remove regulatory overlap

The Securities and Exchange Commission (SEC) plans to transfer oversight of initial coin offerings (ICOs) for investment and utility tokens to the Securities Act in order to remove regulatory overlap and promote digital assets.

Nopnuanparn Pavasant, director of the Fintech Department at the SEC, said the Digital Assets Decree will be amended along with the SEC’s Securities Act to ensure that Thailand’s regulations regarding digital assets trading are in line with international standards.

The amendments will transfer the supervision of investment tokens and utility tokens that are not readily exchangeable for services and products, previously regulated under the Digital Assets Decree, to the Securities Act.

After the…