The Thai Securities and Exchange Commission (SEC) intends to prevent Thai citizens from accessing unauthorized cryptocurrency websites. This action aligns with the instructions given by the Technology Crime Prevention and Suppression Committee, underscoring the government’s dedication to strengthening law enforcement and fighting cybercrime.
The Ministry of Digital Economy and Society has requested the SEC to share details about digital asset service providers operating in Thailand without proper authorization. Upon identification, these platforms may be subjected to access limitations following a court’s approval.
The SEC hasn’t shared explicit guidelines on how to identify illegitimate platforms, but they have set up a website to help investors fact-check business operators.
Thailand’s new strategy is in line with initiatives taken by nations such as India and the Philippines to fortify their regulations and ensure safety for digital assets, adhering to international guidelines.
Although Thailand allows for wide investment in cryptocurrencies, its stringent custody regulations underscore its commitment to safeguarding investors’ funds and maintaining financial security.
Binance Holdings Ltd and Gulf Energy Development Pcl are planning to start a new cryptocurrency exchange in Thailand, following the country’s fresh regulatory guidelines. Thailand’s proactive stance on crypto regulation highlights the importance of robust rules that foster innovation, discourage deceit, and shield investors.
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2024-04-22 16:36