Thai SEC consults public on crypto investor income rules
Thai investors who do not qualify for crypto trading under proposed SEC rules would still be able to invest through licensed fund managers. The Securities and Exchange Commission of Thailand has launched a public consultation on proposed cryptocurrency investor qualification rules.According to an official announcement Thursday, the Thai SEC is now seeking public comments on proposed qualifications for crypto investors including certain income and trading experience requirements.As part of the initiative, the Thai SEC is planning to hold a live hearing through its Facebook page on March 24.....
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Thailand seeks to introduce a new set of rules for retail crypto investors, specifically targeting those who want to open accounts. The Thai financial watchdog could require domestic crypto exchanges to ask traders for proof of income. Thai SEC Could Also Ask Crypto Investors to Prove Their Knowledge of the Market According to a Bloomberg report, the Securities and Exchange Commission (SEC) of Thailand is likely preparing the ground to require investors to show their income or assets before opening accounts. Ruenvadee Suwanmongkol, the secretary general of the country’s financial....
Financial regulators in Thailand may adjust the minimum annual income qualification for crypto investors amid public outrage. Thailand’s Securities and Exchange Commission has walked back previous plans to enact a 1 million baht (about $33,000) minimum annual income requirement for crypto investment in the country.According to a report by the Bangkok Post on Tuesday, the Commission has clarified that the previous draft document was published to gauge investor sentiment.The Thai SEC backtracking comes amid outrage from crypto stakeholders in the country who bemoaned the proposed rule saying....
The Thai SEC is seeking public input for newly proposed crypto custody regulations until late September. The Securities and Exchange Commission (SEC) of Thailand continues introducing new regulations for the cryptocurrency industry, citing investor protection concerns.On Wednesday, the Thai SEC proposed a set of additional regulations related to custody of investors' cryptocurrency holdings held by digital asset business operators. The newly proposed rules refer to custody of fiat money for digital asset accounts as well as cryptocurrency lending, or earning interest on crypto holdings.The....
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....
Thailand has reportedly revised its net capital rules which help securities firms launch cryptocurrency exchanges. The country now has 15 licensed crypto service providers. New Thai Rules and Crypto Exchanges The Thai Securities and Exchange Commission (SEC) has revised its net capital (NC) rules which help securities companies provide crypto services, the Bangkok Post reported Wednesday. “The revised NC rules are expected to help free up liquidity for securities firms that plan to enter new business such as open digital or cryptocurrency exchanges,” the publication conveyed,....