Thai Financial Regulator Claims Controversial Crypto Rule Proposal Was Just t...
The Thai financial watchdog has reportedly retreated from its initial controversial crypto rule proposal. Citing the country’s Securities and Exchange Commission (SEC), a local media outlet stated that public criticism was significant regarding the matter. People ‘Misunderstood’ Minimum Annual Income Rule, Claims the SEC According to the Bangkok Post, the Thai SEC is retracting from its plan to supposedly require crypto investors to have a minimum annual income of over one million baht ($33,000). The proposed measure sparked controversy, as the amount is well above the....
Related News
The Financial Crimes Enforcement Network is extending its comment period for a controversial surveillance rule that had the crypto industry up in arms.
Thailand’s securities regulator recently said it had referred digital asset service provider Zipmex and its Thai unit chief executive officer, Akalarp Yimwilai, to a technology crime division of the Royal Thai Police. The regulator said it made decision after Yimwilai and his company failed to comply with the request to furnish an official with information relating to customers’ digital wallets.
Zipmex Fails to Share Details on Transfers and Withdrawals on Its Platform
Thailand’s Securities and Exchange Commission (TSEC) said it has referred Zipmex and the....
The website accepting comments on the proposed FinCEN rule shows crypto users have until Jan. 7, not Jan. 4 as the regulator claimed. The United States Treasury Department may have accidentally widened the window of opportunity for anyone wishing to submit comments regarding the Financial Crimes Enforcement Network's new crypto rules.Last month, the Financial Crimes Enforcement Network, or FinCEN, proposed rules that would require registered crypto exchanges to verify the identity of people using "an unhosted or otherwise covered wallet" for a transaction of more than $3,000. At the time,....
The Thai Securities and Exchange Commission (SEC) has proposed banning businesses from engaging in crypto staking and lending activities. The regulator is seeking public comments on the proposal, noting that the purpose of this prohibition is “to provide greater protection to investors and reduce associated risks.” Thailand Seeks Public Comments on 2 Crypto Regulatory Proposals The Thai Securities and Exchange Commission (SEC) announced Thursday that it is seeking public comments on two proposals relating to the regulation of crypto assets. The comment period for both....
If passed, more stringent reporting requirements would apply to domestic and international transactions, which some say would damage the growth of the industry. South Korea’s crypto community coul soon face stringent reporting requirements on all cryptocurrency transactions, with the country’s National Assembly currently debating whether “know-the sender” (KTS) rules should be imposed.Arguments against the proposed KTS rule were heard before the Political Affairs Committee of South Korea’s legislature on Nov. 16, with lawmakers and industry experts pushing back against the proposed....