Thai SEC to Implement New Limitations on ICO

According to the new rules, the company planning to enter the ICO must fill out an application, which will be checked by specially created "ICO-portals
05 July 2018   455

The Securities and Exchange Commission of Thailand (SEC) announced that starting July 16, the rules for the regulation of initial coin offering (ICO) come into force, reports CoinDesk.

According to the new rules, the company planning to enter the ICO must fill out an application, which will be checked by specially created "ICO-portals". After this, the application is redirected to the SEC, which makes the final decision on the ICO.

The authorized capital for registration of such a portal must be at least $ 150 000.

Organizers of ICO are required to have a business registered in Thailand. At the same time, funding can be taken from both institutional and retail investors. And the maximum amount of investment for the latter is limited to $ 9000.

In addition, companies are allowed to attract investments only in Thai baht or in cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Ripple and Stellar. However, this limitation follows from the previously approved rules for the regulation of the crypto and ICO.

Сould you please attach your email address for us to send you the most interesting ICO's rating and reviews. No spam.

Eidoo to Release Gold Backed Stablecoin

New stablecoin is called Ekon and it will be possible to it for one gram of gold of 999 test
20 September 2018   261

The Swiss blockchain start-up Eidoo has joined the ranks of projects launching own stablecoins, announcing the creation of a stable coin tied to the price of gold.

Eidoo's stablecoin is called Ekon and is a token compatible with the ERC-20 standard, which will be available in a multi-currency purse and on a hybrid decentralized project exchange. It will be possible to exchange 1 Ekon for one gram of gold of 999 test, which is in a special storehouse. Reserves of gold will be audited every 90 days, moreover, to increase confidence in the token, the company promises to be able to watch gold vault via a video camera.

The profit from the purchase and sale of Ekon within the Eidoo ecosystem will be converted into a native EDO project token.

Despite the uniqueness of the offer of the Swiss start-up, not all experts agree with its usefulness, since the price of precious metal is not so stable. So, for the last six months it has fallen by almost $ 150, however it has grown by $ 25 since the end of August.

In October 2017, Eidoo raised $ 27.9 million in a token, and in April of this year received a license from the Swiss Financial Services Standards Supervision Authority (VQF) under the national financial regulator (FINMA).