Thailand seeks to introduce a new set of rules for retail crypto investors, specifically targeting those who want to open accounts. The Thai financial watchdog could require domestic crypto exchanges to ask traders for proof of income.
Thai SEC Could Also Ask Crypto Investors to Prove Their Knowledge of the Market
According to a Bloomberg report, the Securities and Exchange Commission (SEC) of Thailand is likely preparing the ground to require investors to show their income or assets before opening accounts.
Ruenvadee Suwanmongkol, the secretary general of the country’s financial watchdog, pointed out that anyone who isn’t allowed to trade cryptocurrencies via their accounts can invest through licensed managers. She added:
It’s a big concern as most crypto investors on domestic exchanges are very young, such as students and teenagers. We realize those people love innovations and technology, but investments in these assets have enormous…