The Thai Securities Supervisory Body is trying to cushion digital currency investors from the huge losses caused by lack of market knowledge. The country’s Securities and Exchange Commission (SEC) will hold a public hearing this month to determine what qualifications traders need before entering the digital currency industry.
The Thai digital currency market has grown at a rapid pace over the past few months. New investors are at an all-time high, attracting regulator interest. SEC Secretary General Ruenvadee Suwanmongkol recently said he believes the watchdog must step in to protect investors.
As a local newspaper Bangkok Post relationships, the regulator believes that these qualifications will guarantee operators “sufficient financial reserves to absorb risk from volatile price fluctuations. “
Suwanmongkol revealed that the SEC’s interest comes after the explosion of the Thai market in recent months. Additionally, Thailand’s finance minister Arkhom Termpittayapaisith has ordered the regulator to protect investors entering the sector.
Net purchase of digital assets doubled to THB 1.1 billion ($ 37 million) in December 2020 from 500 million THB (16.7 USD …
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