DeFi Transactions Pose Higher Risks, Thai SEC Cautions Investors
Thailand Security and Exchange Commission (SEC) warns investors within the state about the risks that DeFi transactions pose. SEC claimed that DeFi’s ecosystem, especially lending and debit-taking firms, may not include necessary parameters in their mechanisms to ensure the prevention of rug-pull and overleveraged collateral. While cryptocurrency gained prominent growth in recent years, it also […]
Related News
The prime minister of Thailand has cautioned investors getting into cryptocurrencies, noting that they are volatile and highly speculative. Recently, interest in cryptocurrencies has soared as young investors in the country discovered that they could make money quickly by investing in cryptocurrencies.
Thai Prime Minister Warns About Crypto Investing
Ratchada Thanadirek, deputy spokeswoman for the Thai Prime Minister’s Office, said Saturday that Prime Minister Prayuth Chan-ocha is worried about people investing in cryptocurrencies, particularly young investors.
....
The SEC of Thailand is looking to establish qualifications for crypto investors as digital currency purchases increase. A major financial regulator in Thailand is looking to determine qualifications for cryptocurrency traders to ensure investor protection.The Securities and Exchange Commission of Thailand has scheduled a public hearing this month to address specific requirements for investors who want to open a crypto trading account, local news agency The Bangkok Post reported Monday.By initiating the new qualification system, the Thai SEC intends to ensure that new retail investors....
The president of the European Central Bank (ECB), Christine Lagarde, says crypto assets and decentralized finance (defi) have the potential to pose “real risks” to financial stability. She has some regulatory suggestions to supplement Europe’s Markets in Crypto Assets Regulation (MiCA) bill. Lagarde on Crypto Regulation ECB President Christine Lagarde talked about cryptocurrency regulation at the European Parliament’s Committee on Economic and Monetary Affairs hearing Monday. She said: We believe, as we are embarking on this work concerning crypto assets and....
Beyond the obvious financial risks, there are a number of technical risks DeFi users should be aware of. A November report by data and research company BraveNewCoin has highlighted a number of serious ‘non-financial’ risks in decentralized finance.The financial risks involved with DeFi have been well documented, but the new report delves into more technical concerns associated with Ethereum-based smart contract finance protocols.The report, penned by BNC analyst Xavier Meegan, begins with scalability risks which anyone dealing with DeFi in September this year will be familiar with. Network....
The International Organization of Securities Commissions – IOSCO – has put crowdfunding on their list of investors risks, together with Bitcoin and other cryptocurrencies. Investors all over the world are looking for ways to diversify their portfolio. Rather than sticking with government bonds, stock market trading, or foreign currency, new and....