Thailand Tightens On Crypto Advertising

The Securities and Exchange Commission (SEC) of Thailand said on Thursday that cryptocurrency advertising must disclose the risks of investing in the nascent asset class.

On September 1, the Thai SEC notified cryptocurrency-related businesses nationwide through email that advertisements relating to digital currencies must include clear investing cautions to consumers. The message was later made public on the SEC’s website.

According to the SEC, digital asset marketing now lacks caution about crypto’s high volatility and is limited to positive material, which may mislead the general public.

Bitcoin advertisements could only be carried on official business channels, and corporations must comply with the new standards within a month.

Prominent cryptocurrency exchanges, such as Bitkub and Zipmex, have advertisements on large street billboards and in public transportation hubs in the country, marketing their mobile applications and services to prospective consumers. The SEC fined Zipmex 1.92 million baht ($52,287) for violating local digital asset laws by halting trading on its platform.

According to the SEC’s directive, advertising services in public places is still legal.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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