Thai SEC bans exchanges from handling certain token types including NFTs
Local exchanges now have until July 11 to update their rules for listing tokens in order to be in compliance with SEC guidelines. Thailand’s Securities and Exchange Commission has approved guidelines prohibiting crypto exchanges in the country from supporting four different types of tokens in certain cases.In a Friday announcement from the Thai SEC, the regulatory body said that Secretary-General Ruenvadee Suwanmongkol had approved crypto exchange guidelines, Notification 18/2564 on “Rules, Conditions and Procedures for Undertaking Digital Asset Business,” on Wednesday to go into effect.....
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The Thai Securities and Exchange Commission (SEC) has enacted new rules for cryptocurrency exchanges operating in the country. Certain types of cryptocurrencies, including meme coins, fan coins, and non-fungible tokens (NFTs), are prohibited to trade on crypto exchanges. Thailand Sets New Rules for Crypto Exchanges, Banning Certain Types of Cryptocurrencies The Thai Securities and Exchange Commission (SEC) announced Friday that its board of directors has approved new rules governing cryptocurrency exchanges. Secretary-General Ruenvadee Suwanmongkol stated that the board meeting held on....
Huobi’s operations in Thailand have been suspended by local authorities after it allegedly failed to comply with local regulations. Thailand’s Securities and Exchange Commission has temporarily suspended the services of the local branch of crypto exchange Houbi and recommended revoking its operating license with the Ministry of Finance. With the suspension in place, Huobi has been given three months to return all assets to its clients.Huobi, which is branded as DSDack in Thailand, received the suspension order after failing to comply with local regulations related to its operations and....
Thailand’s Securities and Exchange Commission has issued guidelines barring crypto exchanges from supporting four different types of tokens. No More NFTs Or Meme-Based Tokens In a Friday announcement from the Thai SEC, the regulatory body said that Secretary-General Ruenvadee Suwanmongkol had approved crypto exchange guidelines, Notification 18/2564 on “Rules, Conditions and Procedures for Undertaking Digital […]
South Korea is to ban crypto exchanges from handling digital assets it considers “dark coins”. Regulator Financial Services Commission (FSC) is specifically targeting privacy coins such as dash, monero and zcash. ● The ban is with effect from March 2021. In an update to crypto regulations under the Special Payments Act, the FSC accuses privacy coins of facilitating money laundering activities. ● It says that transactions involving privacy-oriented coins like monero (XMR) or zcash (ZEC) are hard to trace for law enforcement agencies, including the Commission itself.....
Since Dec. 2021, the government of Thailand has been working on preparing a new regulatory framework by defining “red lines” for the crypto industry. In an ongoing effort to carve out a regulated crypto market for the general public, the Thailand Securities and Exchange Commission (SEC) announced a ban on the use of cryptocurrencies for payments. Parallelly, the Commission proposed a new rule that demands disclosure of service quality and IT usage information from crypto businesses including brokers, exchanges and dealers.According to the notice issued by the Thai SEC, businesses in the....