Thailand

The Bank of Thailand has begun pilot testing for its central bank digital currencies (CBDC).

This decade has witnessed a high wave of central banks wanting to make digital versions of their fiat money, also called the Central Bank Digital Currency (CBDC) following the success of cryptocurrencies. Thailand just announced it would be unveiling its own CBDC next year. What shape does the race take after then?

The Central Bank of Thailand (BoT) is creating a CBDC prototype called Project Inthanon for the business and corporate sectors.

Thailand has been very supportive of the development and application of blockchain technology in recent years. Its Energy Ministry is now launching fresh research to ascertain the use of blockchain technology in its palm oil sector.

The Thai SEC officially approved the first initial coin offering (ICO) portal on Tuesday, March 12, according to local news outlet Bangkok Post. The operator behind this ICO portal is reportedly a foreign entity. The appropriated portal would screen several ICOs projects.

Thai government agency NECTEC has created a distributed ledger technology (DLT)-based solution set to digitalize the voting process in Thailand. The tech unites e-voting in close groups and the traditional balloting. In case 5G is adopted, every voter shall be connected to the voting platform.

The Thailand (Thai) Securities & Exchange Commission (SEC) is purportedly considering whether to smoothen the country’s regulation for ICOs. The regulator is carrying out a public hearing to calm down rules on pre-sales and private crypto sales. The SEC has also uncovered plans to stop the usage of crypto sales.

Thailand and ASEAN countries get rid of ICOs to support STOs, which they call a next-gen IPO, because of its decentralised and democratic nature and ability to be legally regulated by the government to protect investors from fraud and make the market transparent and legal. That’s the main idea of the ASEAN Digital Assets Summit 2018, which was held on December 9 in Bangkok, Thailand.

The Thailand Securities and Exchange Commission (SEC), a financial watchdog, has issued a warning concerning 14 websites. The Thai SEC revealed that people behind the 14 websites have for long been advertising precious investment opportunities via these web pages.