Former Thai Finance Minister Calls for Crypto Regulation

A former Thai finance minister has spoken about his support for new regulations around cryptocurrency trading and initial coin offerings (ICOs).

Korn Chatikavanij previously served as the country’s finance minister between from 2008 to mid-2011 and is now he is the chairman of The Thai Fintech Association, a startup accelerator. In an interview last week,  Chatikavanij  said that his organization supports the Thailand Securities and exchange commission’s plan to introduce dedicated policies for activities around the digital currencies.

“I agree with the Finance Ministry’s [view] of letting the SEC be the only organization governing digital assets, because it already oversees securities and has a profound understanding of digital assets,” said Chatikavanij , in an interview with  Bangkok post on Friday.

His remarks came after a long term public consultation period that was  extended twice past its original completion previously scheduled for 22nd  January. One possible result of the review process is a plan to apply existing investment participation rules on token sales, which might impose capital requirements on those carrying out ICOs within Thailand.

Following the completion of the public consultation period and an a subsequent consultative meeting with government officials last Wednesday, state corporations in Thailand indicated they’ve agreed to enact a regulatory framework on cryptocurrencies and ICOs within the next month.

Officials have intimated this sort of sentiment in past remarks to the media. A case in point include remarks made by  deputy Minister Somkid Jatusripitak who said in mid-February that new rules must be expected within the coming weeks.


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