Thai SEC schedules hearings to address crypto investor qualifications
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....
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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.....
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 says the total number of crypto accounts rose by nearly 300% over the course of the last 180 days. Thailand currently lays claim to one of the more regulated crypto trading markets in the world, with exchanges having to adhere to strict regulatory standards. For example, at the start of the year, Bitkub, the country’s largest cryptocurrency exchange, was shut down by regulators after the trading platform faced a series of lengthy service outages. Despite these seemingly stringent conditions, the country’s crypto market has continued to thrive. That being said, a tipping point....
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....
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....