# Thailand amends ICOs regulations to support fundraising of soft power industries

- Link: https://www.thailand-business-news.com/markets/163868-thailand-amends-icos-regulations-to-support-fundraising-of-soft-power-industries
- Published: 2024-09-23T08:24:00+07:00
- Author: SiamNews PR

**SEC amended regulations related to shelf filing of digital tokens and raised funds
from retail investors. These changes aim to promote growth in soft power industries
and provide more options for ICO application.**

---

The Securities and Exchange Commission (SEC) has issued amendments to the regulations
related to the shelf filing of digital tokens, as well as a revision to the total
amount of funds raised from retail investors. These changes aim to provide more 
options for ICO application supporting the fundraising of soft power industries 
and subsequently help promote growth in Thailand’s digital and creative economies.
The amended regulations took effect on 16 September 2024.

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The SEC’s amended regulations related to shelf filing of ICOs and the change to 
the limit and total amount of funds raised from retail investors aim to increase
options and flexibility for ICO filing, allowing issuers to align ICO filing with
the nature of digital tokens to be offered. This initiative also aims to promote
the use of technology in fundraising without compromising appropriate investor protection.
The SEC conducted a public hearing on the proposed principles and draft amendments
to the relevant regulations in June 2024. Most respondents agreed with the proposal.
The SEC has therefore issued the amendments with the key points as follows: 

     (1) Shelf filing ICOs criteria: Issuers are allowed to offer multiple lots 
of tokens, filed under the same shelf. Tokens eligible for shelf filling must have
underlying or invested assets of the same nature or similar projects, as specified
by the SEC. This includes projects in soft power industries such as music, films,
dramas and arts. The issuers of these digital tokens are eligible for multiple offerings
under a single application. These tokens can be offered without limits on the total
amount or number of offerings within a two-year period from the date of the initial
approval. In any case, the filing of the ICO application and registration statement,
fee payment and requirements related to ICO must be as specified in the governing
regulations; 

     (2) Limitation on the total amount of funds raised from retail investors is
lifted for tokens related to soft power projects. While such limit is still applied
to other types of projects.   

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The Notifications regarding the amended regulations* have been published in the 
Government Gazette and have become effective since 16 September 2024. 

Mr. Anek Yooyuen, SEC Deputy Secretary-General and Spokesperson, said:  “As a key
driver in the development of the capital market, the SEC prioritizes the promotion
of technology in capital market activities, especially in business fundraising through
a wide ranges of tools. We believe that this regulatory revision will significantly
advance the soft power industries by making funding sources more accessible. This
is one of the essential mechanisms that will help the soft power industries support
Thailand’s continued development of digital and creative economies.”   

**Source** : [SEC issues amendments to the ICOs shelf filing regulations for soft power industries to promote Thailand’s digital economy](https://www.sec.or.th/EN/Pages/News_Detail.aspx?SECID=11162&rand=113627)