Thailand’s Securities and Exchange Commission (SEC) has released new guidelines aimed at protecting investors for digital asset service providers
. The new guidelines require digital asset service providers to provide proper cautions about the hazards of bitcoin trading.
All platforms must publish the following message: “Cryptocurrencies are high risk.” Please thoroughly research and comprehend the hazards of cryptocurrencies, as you may lose your entire investment.”
Aside from a trading risk statement, the new guidelines forbid service providers from lending or investing with consumer funds.
The SEC’s goal is to better safeguard investors from the dangers associated with lending services.
The new regulations will go into force on July 31, 2023.