Thailand, Singapore Pick Different Ways to Crypto; Signuptoken.com Offers a Unique Proposition
Thailand’s Security and Exchange Commission (called the SEC), has decided to lift the investment limit for ICOs or Initial Coin Offerings, allowing investors to take more significant stakes than before.
The current regulation is that investors can only devote up to $8,800 to an ICO of their choice. This limits the profits they could make from a project and raising the limit will benefit both investors and ICOs.
The Thai securities regulators revealed their keenness in a meeting on liberalizing the crypto market through loosening restrictions so that more investment is possible, particularly into real estate and infrastructure-backed ICOs.
To gain a sense of sentiment, the SEC opened a hearing to get feedback from the public on their decision to raise the investment limit, permitting people to buy more of these ICOs. The consultation will run until the 27th of April.
Digital asset operators are expected to face additional regulations involving increased costs to comply with the new set of ICO regulations.
The open approach taken by Thailand deeply contrasts with that of the U.S., which has entered into heavy litigation with various crypto firms on account of fraud or money mismanagement.
And now, along with Marijuana, Singapore differs from Thailand on the matter of crypto regulation as well.
According to Ravi Menon, Managing Director of Singapore’s Central Bank, Singapore wants to be a hub for cryptocurrency when it comes to testing out new use cases and experimenting with the possibilities digital assets have to offer, but not as a platform for speculative trading.
This sentiment is a direct cause of many Singaporean residents losing their savings to bad crypto investments, leading to a crackdown on the industry.
Accordingly, the city has given out constant warnings that any trading in cryptocurrency is highly volatile and therefore, not for the general public.
The country has taken firm action, banning crypto-advertising in January 2021 along with proposing new measures to protect investors from the Terra-Luna fallout which was a $60 billion financial debacle.
Despite Singapore’s harsh stance, the country is relied upon across the globe for its cryptocurrency regulation when it comes to drafting cryptocurrency-related contracts across the globe. This is because of advanced dispute resolution clauses and the clarity of the wording of the law.
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Disclaimer : The above is a sponsored article and the views expressed are those of the sponsor/author and do not represent the stand and views of The Tribune editorial in any manner.
