What's Hot

    First Citizens to Buy Silicon Valley Bank

    March 27, 2023

    Nasdaq Looking to Launch Crypto Custody Services in Q2 2023

    March 27, 2023

    Africa Moving to Crypto as Alternative to US Dollar

    March 27, 2023
    Facebook Twitter Instagram
    Facebook Twitter Instagram
    The Bull's GazetteThe Bull's Gazette
    Members Area
    • News
      1. Markets
      2. Policy & Economy
      3. Business
      4. Tech
      Featured

      First Citizens to Buy Silicon Valley Bank

      News March 27, 2023
      Recent

      First Citizens to Buy Silicon Valley Bank

      March 27, 2023

      Nasdaq Looking to Launch Crypto Custody Services in Q2 2023

      March 27, 2023

      Africa Moving to Crypto as Alternative to US Dollar

      March 27, 2023
    • Features
      • Opinion
    • Research
      • Publications
      • Market Analysis
      • Contribute
    • Finance & Crypto Guides
    • Consultation
    • Membership
    • Store
    The Bull's GazetteThe Bull's Gazette
    Home»News»Policy & Economy»Thai SEC Places Strict Regulations on Crypto Market 
    Policy & Economy

    Thai SEC Places Strict Regulations on Crypto Market 

    Anietie DavidBy Anietie DavidSeptember 12, 2022Updated:September 12, 2022No Comments2 Mins Read
    Thai SEC Places Strict Regulations on Crypto Market 
    Share
    Facebook Twitter LinkedIn Pinterest Email

    While the central bank is given additional authority to supervise the market, the Thai SEC has tightened regulations on the cryptocurrency market. Gulf Energy Development is attempting to open a cryptocurrency exchange in the meanwhile.

    In Thailand, officials are enacting several new regulations while also adopting an uncompromising approach toward the cryptocurrency business. The Securities and Exchange Commission (SEC) of Thailand’s efforts have had an impact on trading figures, as the number of active accounts has decreased to around 33% of what it was at the beginning of the year.

    On September 1, the SEC established new regulations governing cryptocurrency ads, stating that businesses must not convey incorrect or misleading information and that a warning regarding the dangers of cryptocurrency investment must be included. Within 30 days of the notice being published, these advertisements must be updated.

    Finance Minister Arkhom Termpittayapaisith stated in an interview that the Central Bank of Thailand will also be given additional control over the cryptocurrency sector. The Thai SEC has been responsible for overseeing the cryptocurrency market up until now, but that duty will now be shared in part between the two, and the SEC will be in charge of this modification.

    Regulators Placing Stern Actions Against Crypto Companies Despite Optimistic Crypto Convictions

    Following the collapse earlier in the year, Thailand is undoubtedly attempting to exert some control over the market. Sarath Ratanavadi, CEO of Gulf Energy Development, is still interested in making investments in the blockchain industry despite this. Ratanavadi, Thailand’s second-richest person, plans to put some of the company’s earnings into blockchain startups. He now wants to establish a cryptocurrency exchange and has partnered with Binance to do it. Additionally, the business has committed to buy Binance Coin and preferred shares of Binance US.

    With a market share of 11.83%, Bitcoin commands the majority of cryptocurrencies in Thailand. Tether, Ethereum, and Gala follow Bitcoin. As regulations become more stringent, the trading volume on these assets may very possibly decline.

    The Siam Commercial Bank’s intention to buy Bitkub failed as a result of the stricter requirements. It was planned for the bank, Thailand’s major lender, to buy a 51% interest in the exchange. A Bitkub executive was also fined $235,000 by the SEC for insider trading. Regarding Zipmex, which requested bankruptcy protection, the regulator reported the company to the police.

    Blockchain Cryptocurrency Economy SEC Thailand
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleNEAR Protocol Creates Group to Promote DeFi Governance
    Next Article Indian Authorities Unfreezes Bank Account of Crypto Exchange, WazirX 
    Anietie David

    Anietie has worked in the blockchain industry for three years, gaining experience in blockchain technology, cryptocurrencies, DeFi, and NFTs. As a seasoned content writer, he is passionate about creating effective content strategies for blockchain brands. In addition to content writing, he also has a strong interest in front-end development. When he's not working, he spends his time reading horror novels or playing CODM.

    Related Posts

    Nasdaq Looking to Launch Crypto Custody Services in Q2 2023

    March 27, 2023

    US Republican Introduces Bill to Protect Blockchain Developers

    March 24, 2023

    El Salvador Launches Bitcoin/Lightning Dev Training Office

    March 20, 2023
    Add A Comment

    Leave A Reply Cancel Reply

    Top Posts

    New Crypto Mining Bill in Russia Mandates Earnings Reports

    March 10, 2023

    India Pushes Anti-money Laundering Regulation for Crypto Transactions

    March 8, 2023

    Zambia Explore Crypto Regulatory Framework 

    February 20, 2023

    Our best content, straight to your inbox.

    Disclaimer

    Capital at risk. Content on this website does not constitute financial advice. Please do your due diligence before making any investment.

    Company
    Company

    At the forefront of news and analysis for emerging markets, business, crypto and tech - TBG is redefining financial information through resources for next-generation economics.

    Facebook Twitter Instagram LinkedIn TikTok Discord
    Links
    • About
    • Contribute
    • Advertise
    • Careers
    • Membership
    • Investor Relations
    • Frequently Asked Questions

    TBG Newsletter

    © 2023 The Bull's Gazette.
    • Terms and Privacy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.