Soon after Thailand adopted its regulations for cryptocurrencies and initial coin offerings (ICOs), companies reportedly pile up to apply for licenses to operate in the country. According to the Thai Securities and Exchange Commission, about 50 ICO projects are seeking to launch, five portals plan to open for business and 20 crypto exchanges have applied for a license.
Preliminary Surge – 20 Exchanges, 50 ICOs
Thailand’s regulatory framework for cryptocurrencies and ICOs went into effect on July 16. The Thai Securities and Exchange Commission (SEC), the main regulator of the country’s crypto industry, began accepting applications for crypto licenses on July 24.