Thai SEC says bank customer crypto assets off-limits for lending and investment purposes
Thailand’s Securities and Exchange Commission (SEC) introduced new regulations aimed at digital assets. The guidelines mandate that digital asset service providers must provide comprehensive risk warnings to ensure awareness of the potential risks involved in cryptocurrency trading. Enhance investor protection On July 3, the Securities and Exchange Commission (SEC) of Thailand unveiled new rules regarding digital asset trading and services, with the details published in the Royal Gazette. The key highlights include a mandatory risk disclosure for cryptocurrency trading and a ban on deposit-taking and lending services. Starting from July 31, 2023, operators, brokers, and traders in cryptocurrency trading centers must provide a clear warning about the high-risk nature of cryptocurrencies, ensuring users understand the potential loss of their entire investment. Users must also receive an investment suitability assessment and information on appropriate investme...