The Thai Securities and Exchange Commission (SEC) has announced a tightening of regulations for cryptocurrency businesses operating in the country. The move is intended to improve investor protection and create a better regulatory framework for companies engaging in digital asset activities. The new rules will require greater transparency in the operations of crypto firms, such as providing detailed financial information and proof of identity. Additionally, the SEC is setting up a fund to reimburse investors who suffer losses due to fraudulent activities or mismanagement by crypto businesses. The Thai SEC is also looking to introduce a licensing system for crypto companies, with the aim of providing greater security and trust for investors. The new regulations are expected to come into effect later this year.
Source: Cointelegraph