September 28, 2021

Thai SEC consults public on crypto investor income rules

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The Securities and Exchange Commission of Thailand has launched a public consultation on proposed cryptocurrency investor qualification rules.

According to an official announcement Thursday, the Thai SEC is now seeking public comments on proposed qualifications for crypto investors including certain income and trading experience requirements.

As part of the initiative, the Thai SEC is planning to hold a live hearing through its Facebook page on March 24. The public consultation will continue until March 27, the authority said.

According to a proposed consultation paper, the regulator is planning to set solid limits on cryptocurrency trading in Thailand, including requiring local crypto investors to possess net assets of at least 10 million baht ($332,500) as well as have an annual income of 1 million baht ($33,250). According to the proposed rules, investor net worth will not include the value of real estate used for permanent residence.

As part of the new investor qualifications, the SEC is also looking to require traders to have investing experience and education. Local traders should have at least two years of experience in securities or derivative trading Title: Thai SEC consults public on crypto investor income rules
Sourced From: cointelegraph.com/news/thai-sec-consults-public-on-crypto-investor-income-rules
Published Date: Thu, 25 Feb 2021 08:34:22 +0000