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Thai regulator to introduce ICO, cryptocurrency rules

Thailand is set to introduce regulations to supervise initial coin offerings even as regulators warn investors of the inherent risks in investing in such financial instruments, the Bangkok Post reported Feb. 20.

Thailand's Securities and Exchange Commission expects to introduce the regulatory framework to supervise funding raised through initial coin offerings and cryptocurrencies in March, said Rapee Sucharitakul, secretary-general of the SEC.

Companies involved in ICOs are expected to disclose information about the fundraising's connection to money laundering. Companies are also expected to educate investors about cryptocurrencies, Rapee said.

However, the secretary-general warned that ICOs and cryptocurrencies are not suitable for small investors. Rapee said an SEC study found that 95% of ICO investments are failures, with only 5% providing high returns for investors.