Director of the SEC Financial Technology Department of Thailand: The decision of the Bank of Thailand to ban cryptocurrency has never been permanent

Achari Suppiroj, Director of the Financial and Securities Division of the Securities and Exchange Commission (SEC), recently revealed more information about the country's prospects for cryptocurrencies in the Ripple area event in Bangkok. Achari pointed out that the Bank of Thailand's decision to ban cryptocurrencies has never been permanent. She emphasized that the country proposed a framework and classified “virtual currency” as a digital asset within three months. Achari also agreed that the previous ICO project deceived people and had a big impact on the market, which is risky for investors. However, the country is currently striving to maintain a balance between innovation and protection of investors. She added that in the past, anyone could ask people to invest in exchange for project tokens. Now, only companies under Thai law can issue ICOs, and the ICO portal will review them, just like financial advisors, to ensure a reliable business plan and then recommend it to the SEC for approval.