Thailand Securities Commission (SEC)is considering taking drastic measures to prevent the problems caused by the collapse of crypto lending platforms due to the bear market. Institution, cryptocurrency It is working to limit the service areas provided by its platforms or companies in the country.
The Thai SEC has allegedly focused on two main issues in the planned restrictions. The first issue is on digital asset custody services. The second issue is platforms that lend money on cryptocurrencies.
Authorities believe that the steps to be taken in this area will protect small investors and unconscious capital owners in the country. The main reason that motivated the institution was the liquidity problem experienced in some crypto exchanges last summer.
How Will Thailand Restrict Cryptocurrencies?
The Thai government is not too bothered by the fact that cryptocurrencies are only used as a trading tool, like a stock. According to the SEC, the main problem is the passive income generation from cryptocurrencies and the inability to control the liquidity of exchanges. The government also does not welcome the promotion of cryptocurrencies.
Serving in Asia and especially Thailand last July Zipmex The crypto exchange had experienced a series of liquidity problems. The stock market had to take a break from investing and withdrawing money for a while.
Despite the resumption of withdrawals, the Thai SEC has filed a criminal complaint against the cryptocurrency exchange.
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