Cointelegraph.com

Thailand’s crypto market seeks clearer regulations as industry interest peaks

The Thai SEC says the total number of crypto accounts rose by nearly 300% over the course of the last 180 days.
Thailand currently lays claim to one of the more regulated crypto trading markets in the world, with exchanges having to adhere to strict regulatory standards. For example, at the start of the year, Bitkub, the country’s largest cryptocurrency exchange, was shut down by regulators after the trading platform faced a series of lengthy service outages. Despite these seemingly stringent conditions, the country’s crypto market has continued to thrive. That being said, a tipping point came recently when Thailand’s Securities and Exchange Commission released a statement that it plans to enact a 1 million baht (about $33,000) minimum annual income requirement for crypto investment in the country.The decision was met with immediate backlash from the local investor community — as it would potentially exclude low and middle-income earners from the cryptocurrency market — so much so that the regulatory body had to clarify its above-stated stance within days of making the announcement.In this regard, the SEC noted that the previous draft document was just a means of gauging investor sentiment, with Ruenvadee Suwanmongkol, secretary-general of the Thai SEC, claiming: “I proposed the criteria that many considered too tough to prompt people to express their opinions on the matter and did not intend to say these are the exact qualifications that will be implemented.”Providing his thoughts on the matter, Mr.Pinpraaj Chakkaphak, CEO of local cryptocurrency exchange ERX, told Cointelegraph …
Story continues on Cointelegraph

Related posts
Cointelegraph.comXRPYouTube

Ripple ends YouTube lawsuit over XRP giveaway scams, says CEO

Ripple and its CEO Brad Garlinghouse had alleged that YouTube profited monetarily from fraudulent XRP giveaways. Ripple has ended its lawsuit against YouTube for the social media platform’s alleged complicity in a spate of fake XRP giveaway scams, CEO Brad…
Cointelegraph.comCommunityCryptocurrenciesJack DorseySocial MediaTwitter

Crypto influencers scramble to recover Twitter accounts after suspensions

Twitter suspended a number of major cryptocurrency-related accounts, including some of the industry’s biggest influencers. According to a March 10 tweet by Bitcoin (BTC) podcaster Peter McCormack, at least six crypto-related accounts have been recently suspended by Twitter.The listed accounts…
Cointelegraph.comCredCred CapitalJames Alexander

Case examiner says Cred platform hired escaped prisoner as CFO

Cred’s former Chief Financial Officer, James Alexander, has been identified by U.K. authorities as a prison escapee who was convicted for financial crimes. Bankrupt cryptocurrency lending platform Cred Inc is believed to have unwittingly appointed a prison escapee as its…