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Thailand Toughens Crypto Ad Rules

09-05-2022

  • Tougher rules governing crypto advertising in Thailand came into effect on Thursday, according to an official notice from the country's securities regulator.
  • The new restrictions prohibit the inclusion of false or exaggerated information about crypto companies, such as inflated user numbers, and include a requirement to add clear risk warnings about investing in crypto.
  • The Thai Securities and Exchange Commission (SEC) amended existing regulations after noting that many ads lacked warnings about risks associated with cryptocurrencies and that some showed only "positive information."
  • The new regulations apply to all new crypto ads that market to local users. Existing advertisements must be revised within 30 days of the publication of the notice, according to the SEC.
  • Thailand is pushing forward with its work on a central bank digital currency, while local regulators are closely watching the crypto sector. The country's largest crypto exchange, Bitkub, is under the SEC's microscope for allegedly flouting local securities law.

 

Source: Coindesk