Thailand Securities and Exchange Commission may impose restrictions on investment in cryptocurrencies for unqualified investors
Thailand may restrict investment in cryptocurrencies for unqualified investors. This is reported by Regulation Asia with reference to the Securities and Exchange Commission of Thailand (SEC).
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The financial regulator wants cryptocurrency investors to have basic trading knowledge and experience. The SEC itself, which previously announced qualifications for retail crypto-investors, can work on literacy.
Starting April 8th, the regulator will run free weekly trainings called “Crypto 101”. Classes will be held via Facebook Live.
Thailand raises the entry threshold
The Commission says the restrictions are intended to protect investors. However, the timing of the introduction of the qualification obligation for investing in cryptocurrencies has not been disclosed.
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This is not the first initiative of the financial regulator of Thailand to limit investments in the crypto market. Formerly SEC proposed to introduce a requirement for the annual income of investors in the amount of 1 million Thai baht (~ $ 32 thousand) for investment in cryptocurrencies.
However, the proposal was not supported as it excluded low- and middle-income people from the crypto market.
Read also: Cryptocurrencies entered the top 6 investments in the Russian market
A similar regulation method exists in Russia. The BeInCrypto editorial staff previously reported that the Bank of Russia has determined the maximum entry threshold for unqualified people. According to the Central Bank, unqualified investors can invest in digital financial assets no more than 600 thousand rubles per year.
Read about why the Bank of Russia allowed blocking accounts for the turnover of cryptocurrencies in the material BeInCrypto.
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