Celsius

<p>The post <a rel="nofollow" href="https://coinpedia.org/news/thai-sec-releases-new-rules-to-safeguard-investors-crypto-lending-banned/">Thai SEC Releases New Rules to Safeguard Investors! Crypto Lending Banned!</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In a move to bolster investor protection, Thailand’s Securities and Exchange Commission (SEC) is rewriting the rulebook for digital asset service providers. This shake-up is sending shockwaves through the industry, demanding a higher level of transparency and caution in crypto trading.</p> 
<h2 class="wp-block-heading" id="strong-warning-signs-the-crypto-caution-call-strong"><strong>Warning Signs: The Crypto Caution Call</strong></h2> 
<p>The new regulations require all digital asset service providers to prominently display a risk warning to potential investors. </p> 
<blockquote class="wp-block-quote"> 
 <p>This straightforward message, “Cryptocurrencies are high risk. Please study and understand the risks of cryptocurrencies thoroughly, because you may lose the entire investment amount,” serves as a stark reminder to users of the potential volatility and risks of the crypto market. It’s a mandatory step, requiring user consent and acknowledgment of the risks, before they can engage with the service.</p> 
</blockquote> 
<h2 class="wp-block-heading" id="strong-a-firm-hand-banning-crypto-lending-services-strong"><strong>A Firm Hand: Banning Crypto Lending Services</strong></h2> 
<p>Taking their investor protection mission one step further, the Thai SEC has outright banned crypto lending services. This move curtails crypto platforms from offering any form of return on customer-deposited crypto, safeguarding investors from the inherent risks associated with such services. This stringent rule is slated to come into effect from July 31, 2023.</p> 
<h2 class="wp-block-heading" id="h-a-response-to-crisis-lessons-from-the-bear-market"><strong>A Response to Crisis: Lessons from the Bear Market</strong></h2> 
<p>The genesis of these new regulations can be traced back to the massive crypto lending crisis during the bear market in 2022. Several high-profile crypto lending firms, including giants like <a href="https://coinpedia.org/news/fahrenheit-emerges-as-winner-in-bid-to-acquire-celsius-assets/">Celsius</a> and <a href="https://coinpedia.org/news/blockfi-creditors-take-legal-action-push-for-company-liquidation/">BlockFi</a>, collapsed, trapping billions in customer deposits. This disaster triggered a need for stricter regulations, resulting in the Thai SEC’s current moves to prevent a repeat of such a crisis.</p> 
<p>In a rapidly evolving crypto market, Thailand’s SEC is leading the charge in enhancing investor protection. As the rules take effect, the Thai crypto landscape is set to transform, promising a safer environment for digital asset enthusiasts.</p>

Thai SEC Releases New Rules to Safeguard Investors! Crypto Lending Banned!

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