Thailand’s SEC bans crypto lending and staking in the country
The agency explained the need for restrictions by the liquidity problems of foreign companies that have been observed in the past few months
16.09.2022 - 09:45
394
1 min
0
What’s new? The Securities and Exchange Commission (SEC) of Thailand has banned local cryptocurrency companies from providing staking and lending services to customers. The regulator hopes the restrictions will protect traders and “minimize risks to the general public when interacting with the sector.” The SEC explained that the ban is necessary because many foreign companies have experienced liquidity problems in recent months. Representatives of the commission added that interested parties can comment on the ban until October 17.
Press release by Thailand’s SEC
What happened earlier? On July 1, the SEC of Thailand revoked the license of the local unit of crypto exchange Huobi. This came after the platform failed to bring the systems and staff operations in line with regulations.
In August, Thai banking group SCB terminated its deal to buy cryptocurrency exchange Bitkub. The reason for the cancellation was that the platform was in the process of solving various issues in accordance with the recommendations and orders of Thailand’s SEC.
On September 7, the SEC of Thailand filed a complaint with the Royal Thai Police against cryptocurrency exchange Zipmex and its local co-founder and CEO Akalarp Yimwilai. The regulator began collecting information on Zipmex transactions after the exchange suspended withdrawals on July 20.
Useful material?
Telegram 
Twitter Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$98 485
BTC
+0.88%
-
Ethereum
$3 335.62
ETH
+6.43%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.4
XRP
+24.57%
-
Dogecoin
$0.387424
DOGE
+1.23%
-
Cardano
$0.863596
ADA
+10.81%
-
Bitcoin Cash
$487.92
BCH
-5.59%
-
Polkadot
$6.06
DOT
+7.93%
-
Stellar XLM
$0.28459
XLM
+18.03%
-
Litecoin
$90.06
LTC
+0.66%