The Thai SEC imposed a ban on using customer assets for investment and lending, as well as enforcing advertisement restrictions.
  • lemming-TLDR-bot@reddthat.comB
    2·
    1 year ago

    tldr

    • Thailand has imposed restrictions on cryptocurrency custodial and lending services.
    • New regulations require licensed crypto exchanges to separate their trading activities from custodial and lending services.
    • Non-compliant firms risk fines of up to $93,681 per day for each violation.
    • Existing operators have until May 30, 2023 to comply with new rules.
    • International companies may apply for exemptions but must meet strict qualifications and register as foreign financial institutions (FFIs).