Thailand makes another anti-crypto move citing investor protection.
In an ongoing effort to carve out a regulated crypto market for the general public, the Thailand Securities and Exchange Commission 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.
Some of these risks highlighted by the SEC include loss of value caused by price volatility, cyber theft, money laundering and personal data leakage. Once implemented, businesses in Thailand will be barred from — advertising accepting crypto payments and establishing systems, tools and wallets to facilitate crypto transactions.
“However, the BOT and the SEC, as well as other government agencies, recognize the benefits of technologies behind digital assets such as blockchain and value and support the use of technology to further innovation.”aims to further ensure investor security by gauging the quality of the services delivered by the crypto businesses.
In addition to sending monthly reports to the Thai SEC, the proposal also directs crypto businesses to disclose the reports on their official website within the same timeline.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Thailand to ban use of digital assets as payments from April - SECThailand has issued rules to ban digital assets from being used to pay for goods and services from April 1, the market regulator said on Wednesday.
Weiterlesen »
The SEC proposes the first mandatory climate risk disclosure rulesFor the first time, companies could be required to disclose greenhouse gas emissions and their exposures to climate change risks to the SEC. The agency is set to vote on the proposed rule today.
Weiterlesen »
Grayscale Boss Accuses SEC of Creating Uneven Playing FieldMichael Sonnenshein, CEO of Grayscale, believes that the SEC will eventually approve a spot-based Bitcoin exchange-traded fund
Weiterlesen »
SEC would require climate-change risk disclosures under proposed planFor the first time, the agency's proposed plan would require businesses to outline the risks a warming planet poses to their operations.
Weiterlesen »
SEC asks companies to divulge pollution and climate risksClimate change could be taking a toll on profits already.
Weiterlesen »
SEC proposes rule mandating companies tally greenhouse emissions, disclose climate change riskPublic companies would be required to disclose how climate-related risks will impact their businesses, how they plan to identify and manage climate risks and more, according to a new proposed rule.
Weiterlesen »