To report it is a press release issued today by the local newspaper in English Bangkok Post; the Thai regulatory authority plans to review the regulatory framework that regulates the cryptocurrency market with the aim of simplifying it and making it more flexible. This choice derives from the fact that regulation in the country is judged too rigid by companies and this prevents the birth of an industry at the local level; who does business with the blockchain, therefore, until now has preferred to take root in other areas of the area, snubbing Thailand and preferring countries with more elastic legislation. In fact, since the new regulatory framework came into force in 2018, only five companies have succeeded in obtaining the licenses necessary to operate legally in the country, which has greatly slowed the growth of Thai industry. Interviewed by the Bangkok Times Ruenvadee Suwanmongkol, the general secretary of the Thai SEC, said that:

"As an authority we have a duty to be flexible and apply the regulations in line with the market environment; the laws that regulate the sector, for example, should not be obsolete and but should aim to meet the needs of companies, in particular for new digital asset products, allowing them to be competitive on the global market "

One of the most difficult aspects to regulate, which at the same time restrains the growth of the industry, is for example that concerning ICOs; these instruments, in fact, expose small investors to great risks, for which they need an ad hoc regulatory framework, but on the other hand too rigid a regulation ends up distorting them completely by debasing their usefulness. The ICOs are in fact exceptional instruments to allow small start-ups to finance themselves, however as the fulfillments necessary to issue an ICO in a legal manner grow as well, the costs also increase and with increasing costs for the company, the ICOs lose much of their usefulness. The financial authorities, not just Thais, therefore find themselves having to mediate between the need to protect small investors while avoiding burying the market by establishing an excessively rigid regulatory framework; a job that is not easy, but which apparently the Thai SEC has decided to face head-on; we will know more, probably, in the next year, when the new amendments will become public knowledge and we will be able to understand if the work of the Thai legislator will satisfy the needs of the sector and may perhaps be taken as an example also from other countries.