T.Thailand’s Securities and Exchange Commission (SEC) has introduced new measures to regulate cryptocurrency operators in the country.
Thailand’s SEC has reportedly banned or may ban payment of platform revenues for digital asset custody services offered by cryptocurrency operators and user-deposited cryptocurrencies used for lending or reinvestment. increase.
These measures have been introduced by Thailand’s SEC to protect the interests of traders and individual investors in the cryptocurrency market. This comes after the liquidation of several major crypto exchanges and the crypto market crash. Several crypto lenders that promised high interest rates to depositors went bankrupt due to the crypto crash.
What did the SEC propose?
Thailand’s SEC has proposed banning any activity, including advertising and public solicitation, that could facilitate lending or deposit receiving services by cryptocurrency trading platforms. It also plans to ban cryptocurrency exchanges from accepting digital assets and force depositors to pay returns.
Thailand’s SEC has introduced tougher regulations after liquidation problems faced by cryptocurrency exchange Zipmex in July 2022. Zipmex had to suspend deposits and withdrawals on its platform and had a strong presence in Southeast Asian countries.
Thailand’s SEC has investigated the losses faced by the public due to liquidations. zipmex zipmex centralized exchange Followers: 0 View profile We also received user feedback through online forums. Zipmex quickly resumed exiting Thai customers, but SEC concerns remain. The SEC filed a police complaint against Zipmex last week.
To ensure full compliance with basic standards and security measures, the Zipmex exchange has ensured that it is cooperating with regulators.