Because of Thailand’s new licensing system 20 applications have come in from companies seeking licenses for token sales and crypto exchanges an official has reported.
In a news report from Bangkok Post on Thursday, Rapee Sucharitakul, the secretary-general of the Thailand Securities and Exchange Commission (SEC), said a total of 20 crypto exchanges had already registered for licenses.
Many companies interested in operating digital asset exchanges say digital assets and cryptocurrency trading in the Thai market are quite active.
In addition, the SEC said around 50 ICOs have expressed interest in becoming registered to conduct compliant token sales in the country.
However, before the SEC can grant licenses to individual projects, it must first select the so-called “ICO portals” – online marketplaces where potential ICO issuers can operate their token sales.
Out of the five companies that have expressed interest in becoming ICO portals, three have already filed applications.
In the same region, regulators from the Philippines embarked on a similar effort just last week, releasing draft rules for the regulation of token sales. The nation is currently seeking public comment on how to let ICOs operate in a regulated environment.