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Longroot Gets ICO Portal License from SEC

Longroot has received approval from the Securities and Exchange Commission (SEC) to operate its ICO portal, reported eFinance.

SEDigital and T-Box had earlier acquired a license to become a digital token seller with the SEC. 

Thailand is the first country in the world to have a digital asset regulator. However, the Bank of Thailand (BoT) has not yet recognized digital currencies such as bitcoin and has not legalized it. Thailand is developing a “private blockchain” technology for commercial banks called “Project Inthanon”.

There are two types of digital token issuance allowed by the SEC: utility tokens and investment tokens. The utility token gives rewards to users while the investment token gives dividends to token holders.

However, the issuance of security token offering (STO) is not yet clear on how it works in Thailand because the existing regulations are not clear about it yet.

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