Thailand's crypto regulation is under scrutiny as the government plans to amend digital asset rules.
The country's regulators said that action needs to be put into place as a recent cryptocurrency selloff saddled retail investors with large losses and toppled several companies.
Existing digital-asset regulations in Thailand were introduced in 2018; however, they require amendment from the Securities & Exchange Commission (SEC), said Secretary-General Ruenvadee Suwanmongkol.
Suwanmongkol added that stricter qualifications for managing and licensing crypto custodians would be part of the amendment proposal. Specific details are yet to be released.
“The extreme volatility of digital-asset prices has spurred the urgent need for improved supervision,” Ruenvadee said in an interview. “Our main focus will be to provide more protection for small investors, some of whom are putting most of their savings into these assets.”
The regulatory body was motivated to take action after Zipmex...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...