Thailand’s SEC notice states that operators of digital asset companies are prohibited from providing or maintaining deposit and lending services, including accepting deposits of digital assets and raising digital assets for borrowing or investing, followed by payment of interest income.
In addition, the regulator issued guidance requiring digital asset operators to inform users in detail about the potential risks associated with cryptocurrency trading.
Under the new rules, consumers must see a warning message before they use the service, as well as the results of an expert assessment regarding the advisability of these investments and possible financial condition choices.
The regulator has emphasized to operators that users can only move to use the in-demand service once they have provided the company with the necessary approvals and acknowledged the potential risks.
Earlier, the Central Bank of Thailand notified the public about the start of testing of retail digital baht in a special regulatory sandbox. Testing will continue until August 2023.