New real estate-backed ICO regulations take effect as from 1 March 2021
Tuesday 2 March 2021 | No. 39 / 2021
Bangkok, 2 March 2021 – The Securities and Exchange Commission has announced that the amended regulations governing supervision of initial coin offering (ICO) with real estate underlying or real estate income stream (real estate-backed ICO) have become effective as from 1 March 2021.
The SEC has amended the real estate-backed ICO regulations
to be more comparable to the regulations governing real estate investment
trusts (REIT) because both real estate-backed ICO and REIT share similar form
of fundraising and benefit generation. In essence, the amendments support
enhancement of digital token offering supervision with proper investor
protection mechanisms and a focus on fair protection of investors’ rights in
accordance with the relevant regulations governing the forms and risks of the
investment products. The amendments also provide more flexibility and
efficiency in meeting the business models of the private sector.
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Link to SEC News No. 36/2564 headlined, “SEC enhances real
estate-backed ICO oversight to strengthen investor
protection mechanisms”: https://www.sec.or.th/EN/Pages/News_Detail.aspx?SECID=8839
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