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Gungun Bhatia
Dec 13, 2022
by Gungun Bhatia

Thai SEC to Enact Stricter Crypto Rules With Focus on Investor Security

Thai Crypto Rules

Table of contents

  1. Thai SEC Enacted Strict Rules on Digital Assets
  2. Four Key Areas to Emphasize
In the wake of the FTX crash, the Thai SEC has joined the rising number of nations looking to update their crypto rules and regulations. It also plans to focus on protecting investors while tightening industry regulations, as do the majority of these nations.

Thai SEC Enacted Strict Rules on Digital Assets

The Bangkok Post reported on December 13 that the Thai Securities and Exchange Commission (SEC) is contemplating stricter rules on digital assets to reflect the worldwide market. According to reports, the SEC members agreed with the shortcomings of FTX, Three Arrows Capital, the TerraUSD, Celsius Network, and the regional exchange Zipmex to support their choice.

The authorities also expressed worry over current cryptocurrency advertising techniques, particularly the employment of influencers to spread the message, which may have deceived the public and exposed them to investment dangers. They described the digital asset market as "vulnerable" and in need of regulation.

Four Key Areas to Emphasize

The SEC identified four key areas to concentrate its efforts on investor safety, regulation of cryptocurrency promotion, conflict of interest prevention, and cybersecurity. It has established a working committee of both public and private parties to evaluate and draught the necessary adjustments to current rules.

The Thai SEC has taken action on crypto advertising rules before, which is interesting. In September, it compelled market participants to provide customers with crystal-clear investment cautions. The SEC began a public hearing in the same month on its plan to restrict cryptocurrency platforms from offering or supporting services for digital asset registries. The general public and traders are intended to be protected by a potential prohibition on all loan and staking services.

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Thai SEC to Enact Stricter Crypto Rules With Focus on Investor Security
Gungun Bhatia
Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

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