The SEC amended rules of approval are now divided into two steps, namely:
1/ Examining the qualifications and appropriateness of the required work systems according to the application supporting documents within 90 days from the date of filing the application with SEC
2/ The inspection of the actual work systems before granting permission to commence business operation whereby the approved ICO portal must show the readiness of the overall work systems within 180 days from the date of approval.
Atato built the first ICO portal to receive Thailand’s SEC approval back in 2019 for one of our clients. We developed and delivered the entire software platform that powers this new and exciting business model. This included smart contracts development, blockchain integration, web portal development, continuous integration, cloud infrastructure, SEC technical audits, and all the project management required to make this a success.
With a growing number of products built for regulated, compliant securities token offerings, it is now much faster to develop an ICO portal for Thailand (thanks to the rapid growth of blockchain enterprise-grade software). This allows companies to receive their licenses more rapidly, reduce their investment, and focus on the ICO business itself.
The key challenge of these developments remains investor protection, under the clear framework that has been laid-out by Thailand’s Securities and Exchange Commission. As the market for these software solutions evolves, there are now clear and well-established technology designs that enable full compliance with the regulations.
As more and more companies are investing under the framework established by Thailand’s Royal Decree on Digital Assets Business, and with cryptocurrency exchanges, brokers, dealers, and ICO portals opening in Thailand, it is an exciting time for the blockchain community as a whole in the country.
Our team is ready to support SEC licenses applicants deal with the technology, blockchain, and technical compliance challenges that comes with these regulations. If you are interested to explore building your business’ technology with us please contact us at [email protected] or check on our website: https://www.atato.com/ico-portal/