SEC delays review of digital asset rules

SEC delays review of digital asset rules

The Securities and Exchange Commission (SEC) decided not to review a regulatory framework on cryptocurrencies and initial coin offerings (ICO) on Thursday, preferring to wait for planned new special legislation.

Secretary-general Rapee Sucharitkul said the decision followed a meeting of the finance minister, deputy prime minister and relevant organisations, who agreed that a special law would be introduced to comprehensively regulate digital assets and the SEC would be the regulator.

The special law would cover ICOs and cryptocurrencies and set rules covering fund raising through ICOs, middlemen, platform developers and investors.

The SEC would discuss the issue in detail after the law was drafted, Mr Rapee said.

"It will not take long because the government considers the matter to be urgent," he said. 

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