The Securities and Exchange Commission of Thailand has published regulation mandating virtual asset service providers that offer crypto custody services to establish a digital wallet management system. The requirements include a contingency plan to be in place in the event of any situation that may affect the management system of digital wallets and keys. The regulator also expects policy and procedures for designing, developing and managing digital wallets as well as policy and guidelines for overseeing risk management and management of digital wallets and keys. The regulation has taken effect since 16 January and full compliance with the regulation is required within six months from the effective date.
Source: https://cointelegraph.com
