Crypto-asset platforms to face stricter rules in Thailand

Thailand plans to tighten supervision of digital-asset firms after a cryptocurrency selloff saddled retail investors with large losses and toppled several companies. - AFP

BANGKOK (Bloomberg): Thailand plans to tighten supervision of digital-asset firms after a cryptocurrency selloff saddled retail investors with large losses and toppled several companies, the country’s top regulator said.

The Securities & Exchange Commission is looking to amend existing digital-asset regulations, most of which were approved in 2018, said Secretary-General Ruenvadee Suwanmongkol. Proposals include stricter qualifications for management and licensing of crypto custodians, she said, without providing specific details.