ChainCatcher news, the Securities and Exchange Commission (SEC) of Thailand has proposed new regulations allowing mutual funds and private funds to invest in digital assets, in line with international developments and to meet the growing interest of institutional investors. A draft proposal released on Wednesday is seeking public comments on the revision of standards for funds investing in digital assets.The SEC proposed allowing securities firms and asset management companies to provide services to large investors interested in investing in crypto-related products (such as ETFs), creating more opportunities for investors to diversify their portfolios under expert management.

ChainCatcher news, according to Coindesk, the Securities and Exchange Commission (SEC) of Thailand has decided to block "unauthorized" crypto platforms, citing earlier decisions from countries such as India and the Philippines.According to the announcement on Friday, Thai authorities have decided to block "unauthorized" crypto platforms to enhance law enforcement efficiency and address online crime issues. Following a meeting of the Technology Crime Suppression Committee, the SEC was asked to submit information on unauthorized digital asset service providers to the Ministry of Digital Economy and Society to block access to these platforms.The announcement stated that the SEC has considered the impact on users and will give them time to manage their accounts before the service becomes unavailable. Therefore, the announcement urges users of the platform to quickly withdraw their assets from the platform.

ChainCatcher news, according to Cointelegraph, the Thai Securities and Exchange Commission has amended its rules to allow the launch of private funds that invest in Bitcoin spot ETFs traded on U.S. exchanges.However, according to a report by the Bangkok Post on March 12, only institutional investors and "ultra-high-net-worth individuals" will be able to invest in these Bitcoin ETF funds.

ChainCatcher news, according to The Block, based on a statement posted by the cryptocurrency exchange Zipmex on its Facebook page, the exchange has halted deposit and trading services in Thailand to comply with the regulations of the Thai Securities and Exchange Commission. Withdrawals will be processed normally until January 31, 2024, after which customers will need to contact the exchange's customer support team for withdrawal assistance.It is reported that Zipmex Thailand will face penalties from the Thai Securities and Exchange Commission due to the exchange's alleged misuse of digital asset custody services and directing customers to the Singapore-based exchange Zipmex Pte, resulting in a conflict of interest.

ChainCatcher news, the Thai SEC announced that it prohibits exchanges from providing lending and staking services to retail investors. The Thai SEC also introduced a mandatory trading risk disclaimer, requiring all users to be aware that exchange operators must ensure users acknowledge these risks before agreeing to use the services.In addition, the investor suitability assessment will determine the amount of cryptocurrency users are allowed to invest in. The new regulations will take effect on July 31, 2023.Previously, the Monetary Authority of Singapore required cryptocurrency trading platforms to hold customer funds in trust, and Singapore will also advance a proposal to prohibit retail investors from borrowing and staking. (Source link)