The Thai Securities and Exchange Commission (SEC) is looking to ease up on its strict approach towards initial coin offerings (ICOs) and eliminate restrictions for retail investors.
Previously, the regulator had placed a cap of 300,000 Thai baht (equivalent to around $8,725) for retail investors interested in investing in ICOs.
However, the Thai SEC is now planning to review the regulations surrounding ICOs, with the aim of enhancing the monitoring of digital asset transactions and minimizing potential risks to investors, digital asset operators, and the overall market.
The regulator has, however, cautioned that lifting the restrictions on such investments could expose investors to increased risks.
The Thai SEC is currently soliciting public feedback on its proposal to remove the limitations on ICO investments, and the deadline for submitting comments is April 27th.
Additionally, the agency has asked for public opinion on whether custodial services should be allowed to serve digital asset companies, and has indicated its willingness to issue licenses to firms that have experience in asset holding and comply with regulatory requirements.
Earlier this year, the Thai regulator launched an initiative aimed at promoting blockchain and cryptocurrencies among the general public, while in March, the Thai cabinet approved tax incentives for firms that issue investment tokens in the cryptocurrency space.