Former Finance Minister of Thailand Calls for Digital Currency Regulation

A former finance minister of Thailand, Korn Chatikavanij, has voiced his assist for new regulations considering digital currency exchange, trading and initial coin offerings. Korn Chatikavanij formerly served as the Thailand’s finance minister between the end of 2008 and middle of 2011.

Now chairperson of The Thai Fintech Association, a startup accelerator, Korn Chatikavanij stated remaining week that his company supports the Thailand Securities and Exchange Commission’s plan to introduce committed regulations for activities across the digital currency and blockchain technology.

Thailand

Korn Chatikavanij stated:

“I agree with the Finance Ministry’s view of letting the Thailand Securities and Exchange Commission be the best company governing digital assets, as it already oversees securities and has a profound information of digital assets.”

Korn’s remarks came after a months-long public session period that was prolonged two times beyond its original final date of January 22. One possible result of the overview way is a plan to use current funding participation regulations to token income, which would impose capital necessities on those undertaking initial coin offerings in Thailand.

Korn Chatikavanij

Following the completion of the public session period and a joint assembly with authorities’ officials remaining Wednesday, state businesses in Thailand indicated they have agreed to enact a regulatory framework on digital currencies and initial coin offerings within the subsequent month. Officials have noted this kind of timeline in past feedback to the media, such as deputy Prime Minister Somkid Jatusripitak, who stated in middle of February that new regulations have to be expected within the coming weeks.

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