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Thailand Imposes New Rules for Crypto Advertising

Thailand Imposes New Rules for Crypto Advertising

Thailand's securities watchdog aims to protect crypto investors from misleading advertising. 

The Office of Securities and Exchange Commission (SEC) in Thailand, the country's crypto and securities regulator, has decided to tighten rules for crypto advertising

According to a statement shared by the regulator, starting October 1st, crypto-related companies, especially those advertising digital currencies, must provide investment warnings in their advertisements

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What is NEO in Crypto? Chinese Ethereum Explained (ANIMATED)

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The new regulations come after the SEC noticed that many crypto advertisements include only positive information and lack warnings regarding the risks of investing in crypto. 

A significant number of crypto companies operating in the country are advertising their services on digital media, billboards, or public transport hubs. However, it seems that it has come to an end. The SEC is now limiting crypto advertising to official channels such as the company’s websites

Moreover, the companies are obligated to share information about possible risks and give warnings associated with crypto investments. Above all, the SEC highlights that crypto firms must not provide information, which is exaggerated, misleading, or include false claims.

The companies are also advised to provide balanced advertisements meaning they should present positive and negative factors related to the advertised products or services. 

Thailand's securities watchdog has given companies a month to comply with new regulations. According to the SEC, the new rules have been implemented in the footsteps of the United Kingdom, Dubai, Singapore, and Spain, which have recently launched similar regulations. 

At the beginning of August, SEC issued operation approvals to four crypto companies, crypto exchange T-BOX Thailand, two fund managing companies Leif Capital Asset Management and Coindee, and crypto broker Krungthai XSpring

In other news, Thailand authorities received a great deal of criticism for not being able to protect Zipmex investors. It is worth noting that Zipmex halted its withdrawals on July 20th. Shortly after that, SEC launched an investigation attempting to investigate the aftermath that Zipmex withdrawal suspension had on investors

As a result, Thailand’s SEC has fined Zipmex 1,92 million baht (around $52,287) for violating digital asset laws after halting its withdrawals. 

Gile K., Market Sentiment Analyst
Gile is a Market Sentiment Analyst who understands what public events may form what emotions. Her experience researching Web3 news and public market messages – including cryptocurrency news reports, PRs, and social network streams – is critical to her role in helping lead the Crypto News Editorial Team.
As an intelligent professional in public relations, together with the team, she aims to determine real VS fake news patterns, and bring her findings to anyone searching for unbiased news and events happening in the FinTech markets. Her expertise is uncovering the latest trustworthy & informative Web3 announcements to the masses.
When she's not researching the trustworthiness of mainstream stories, she spends time enjoying her terrace view and taking meticulous care of her outdoor environment.

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