At Bangkok, on 23rd February 2018, the Omega World Class conference on “Corporate Finance Law 2018” at Dusit Thani Hotel, Mr. Kowit Somwaiya, the Managing Partner of LawPlus Ltd., gave a presentation on “Initial Coin Offering” focusing on ICO as a digital corporate financing tool. He said that ICO is a borderless new way of raising funds by leveraging cryptocurrencies mostly via Internet without financial intermediaries and that works through a blockchain-enabled software platform to secure and verify transactions. He emphasized that as of 23rd February 2018, Thailand does not have a specific law on ICOs and cryptocurrencies and that cryptocurrencies are neither a “currency” under the Currency Act B.E. 2501 nor a “securities” under the Securities and Exchange Act B.E. 2535 as amended. Thus, as of the said date launching an ICO is not required to be approved or reported by any official authority in Thailand. Click here for his presentation slides.
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