Thailand SEC Moves to Tighten ICO Rules With Investor Testing Mandates

Key Points

1. The SEC proposes to require non-institutional investors to pass a knowledge test before investing through ICO portals, unless they have done so in the past.

2. ICO portals would need to conduct comprehensive suitability assessments, replacing the current quarterly requirement to reduce burdens on both portals and investors.

3. Thailand's SEC has been a regional leader in crypto regulations, with the new rules aiming to prevent amateur investors from repeating past mistakes from the 'ICO scam era'.

4. Professional investor classes would remain exempt from the new knowledge test requirements.

5. The public has until August 1 to comment on the proposal, which could significantly impact how ICOs are accessed in Thailand.