{"id":48281,"date":"2021-08-25T16:32:20","date_gmt":"2021-08-25T13:32:20","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=48281"},"modified":"2025-09-02T01:27:14","modified_gmt":"2025-09-01T22:27:14","slug":"thai-authorities-propose-regulatory-framework-for-crypto-custodians","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/thai-authorities-propose-regulatory-framework-for-crypto-custodians\/","title":{"rendered":"Thai authorities propose regulatory framework for crypto custodians."},"content":{"rendered":"<p>The Securities and Exchange Commission of Thailand (SEC)<a href=\\\"https:\/\/www.sec.or.th\/EN\/Pages\/News_Detail.aspx?SECID=9087\\\"> opened<\/a> public hearings on proposed amendments to the rules governing digital asset custodians.<\/p>\n<p>\\n\\n<\/p>\n<p>The agency expects to receive comments from interested parties by 22 September.<\/p>\n<p>\\n\\n<\/p>\n<p>The new rules address the custody of fiat currencies, crypto-lending activities, and earning interest on deposits in digital assets.<\/p>\n<p>\\n\\n<\/p>\n<p>The SEC intends to prohibit firms from using client funds \\&#8221;for the benefit of others\\&#8221;, and from handling digital assets, including crypto-lending activities.<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p><em>\\&#8221;The use of clients&#8217; fiat currencies will also be prohibited, except for deposits in commercial banks\\&#8221;<\/em>, the accompanying commentary notes.<\/p>\n<\/blockquote>\n<p>\\n\\n<\/p>\n<p>The new rules clarify the regulatory framework for withdrawals and transfers of fiat money from digital-asset accounts. These operations must be executed using multisignature wallets.<\/p>\n<p>\\n\\n<\/p>\n<p>The regulator says the rules will strengthen investor protection and the reliability of crypto-service providers, ensuring the accuracy and timely updating of investors&#8217; asset data.<\/p>\n<p>\\n\\n<\/p>\n<p>As reported, the SEC <a href=\"https:\/\/u1f987.com\/en\/news\/thai-authorities-weigh-regulation-of-the-defi-sector\">is considering<\/a> regulating the DeFi sector.<\/p>\n<p>\\n\\n<\/p>\n<p>Earlier, the Bank of Thailand <a href=\"https:\/\/u1f987.com\/en\/news\/thai-central-bank-to-regulate-stablecoins\">announced the introduction of rules<\/a> governing fiat-backed stablecoins, assets, and algorithmic \\&#8221;stablecoins\\&#8221;.<\/p>\n<p>\\n\\n<\/p>\n<p>In May, plans by the local anti-money-laundering office <a href=\"https:\/\/u1f987.com\/en\/news\/thailand-to-tighten-registration-requirements-for-crypto-exchanges\">to require<\/a> Bitcoin exchanges to scan chips embedded in citizens&#8217; identification cards when opening new accounts were revealed.<\/p>\n<p>\\n\\n<\/p>\n<p>Follow ForkLog news on <a href=\\\"https:\/\/twitter.com\/ForkLog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Securities and Exchange Commission of Thailand (SEC) opened public hearings on proposed amendments to the rules governing digital asset custodians.<\/p>\n","protected":false},"author":1,"featured_media":48282,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1156,36,1266],"class_list":["post-48281","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-institutional-investors-and-whales","tag-regulation","tag-thailand"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/48281","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=48281"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/48281\/revisions"}],"predecessor-version":[{"id":48283,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/48281\/revisions\/48283"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/48282"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=48281"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=48281"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=48281"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}