The Thailand regulator issues clear rules for the emission of G-Takens

The Securities and Exchange Commission (SEC) of Thailand has limited its tokenized public obligations, G-TOKEN, to be used as a means of payment.

The regulator has established clear rules on the G-Takens, stressing that the intention is not to use them for trading like other cryptocurrencies, according to a Bangkok Post report.

“We want to make sure that G -Token serves as a useful investment innovation and technology focused – not just a speculative tool,” said Budsaratragoon of the Secretary General of the SEC.

On May 13, the Thai Ministry of Finance announced the launch of $ 150 million in digital investment tokens, to allow the general public to buy state bonds via blockchain tokens.

G-TOKEN will be the first digital token issued by the government to collect public funds and to cover its budget deficit.

G-TOKEN will be issued by the IPO

Jomkwan Kongsakul, assistant secretary general of the SEC, noted that the government’s tokens would be issued via an initial portal of the parts offer (ICO). The Ministry of Finance would serve as a clerk, she said.

The SEC has also indicated that the official launch is scheduled for July this year, and that details, including interest rates, maturity and guarantees, will be announced before launch.

In addition, the regulator had public talks on the G-TOKEN regulatory framework to collect comments, with a 15-day window.

“Unlike state obligations or actions, a G-TOKEN is not a debt instrument, and therefore it is a law on digital assets, and not traditional public debt laws,” noted Jomkwan Kongsakul, secretary general of the SEC.

Investors with digital portfolios with authorized crypto exchanges can invest directly in G-TOKEN, indicate the rules. Meanwhile, for investors using security companies as intermediaries, the company will be careful of the token.

Digital Thailand’s digital obligations tokens on the secondary market

Jomkwan noted that these tokens can be negotiable on a secondary market. This offers investors “options to exchange or keep up to maturity”.

“This structure offers outing opportunities while maintaining an investment approach focused on savings,” she added.

The SEC will be responsible for the supervision of the G-TOKEN trade on the secondary market. In addition, the regulator will focus on anti-market handling measures, commercial transparency and investor protection.

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