The Securities and Exchange Commission (SEC) of Thailand intends to prevent its citizens’ access to unauthorized cryptocurrencycurrency websites. This demonstrates the government’s unwavering commitment to strengthening law enforcement and battling cybercrime and is in line with the direction issued by the Technology Crime Prevention and Suppression Committee.
The SEC has provided a website to help investors confirm the legality of business owners, even though it did not specify the standards for rejecting a platform as legitimate.
The SEC revealed that it has been required to give information on locally unlawful digital asset service providers to the Ministry of Digital Economy and Society. Once identified, these sites are expected to face access restrictions after judicial clearance.
Thailand’s most recent strategy is in line with comparable initiatives being made by nations like the Philippines and India to fortify their legal systems and establish a safe haven for digital assets in accordance with international norms.
Thailand’s stringent custody regulations demonstrate its emphasis on safeguarding investors and maintaining financial stability even in the face of allowing wide investor access to cryptocurrencycurrency assets.
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