- Thai asset regulator is ready to enforce strict regulations on digital assets.
- Thai SEC has set up a committee of relevant agencies to suggest new measures.
- China is also creating new conditions for approved virtual asset exchanges.
According to a local media report, Thailand’s Securities and Exchange Commission (SEC) is designing a new process to improve digital asset governance, including more stringent regulations to increase investor protection.
The asset regulator highlighted the recurrent failures of significant virtual asset managers as a primary concern prompting the new move. Consequently, the Thai SEC has set up a working committee consisting of relevant government agencies and private sector representatives to study and suggest ways to improve digital asset laws.
In September, the Thai SEC initiated a public hearing on banning deposit-taking and lending services following the collapse of the Thailand crypto exchange Zipmex. The proposed prohibition would make it illegal for operators to accept crypto deposits on the promise of increased repayment, even if those funds originate from marketing budgets rather than the assets’ rising worth.
Additionally, the Thai SEC accused the bankrupt Zipmex and its co-founder Akalarp Yimwilai of not complying with the country’ ...
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