The Securities and Exchange Commission of Thailand plans to prohibit any staking and lending services from the “digital asset business operators” in the country. The banned activities include taking a deposit of digital assets by the operators with a promise to pay returns to depositors, and advertising lending and depositary services. The measure is reportedly the regulator’s response to the recent crypto lending platforms’ crashes amid the general market meltdown with an aim to protect the traders and the general public from the “risk of such transaction providers.” Stringent rules of advertisement for cryptocurrency firms operating in the country will also be implemented. The regulator will be collecting opinions on this matter until 17 October.
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