{"id":81128,"date":"2023-07-03T15:06:23","date_gmt":"2023-07-03T12:06:23","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=81128"},"modified":"2025-09-11T21:05:31","modified_gmt":"2025-09-11T18:05:31","slug":"thailands-sec-to-ban-the-use-of-crypto-assets-in-lending","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/thailands-sec-to-ban-the-use-of-crypto-assets-in-lending\/","title":{"rendered":"Thailand&#8217;s SEC to ban the use of crypto assets in lending"},"content":{"rendered":"<p>Providers of crypto services (VASP) in Thailand will be barred from using clients&#8217; funds for lending and investment. This follows the <a href=\"https:\/\/www.sec.or.th\/TH\/Pages\/News_Detail.aspx?SECID=10018\">new guidelines<\/a> from the local <span data-descr=\"US Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span>.<\/p>\n<p>The initiative is aimed at strengthening investor protection. The new rules will take effect on July 31, 2023.<\/p>\n<p>The regulator published the draft guidance for consultation with stakeholders in September 2022 after the collapse of lending platforms<a href=\"https:\/\/u1f987.com\/en\/news\/blockfi-files-for-chapter-11-bankruptcy-protection\">BlockFi<\/a> and<a href=\"https:\/\/u1f987.com\/en\/news\/celsius-files-for-bankruptcy-protection\">Celsius Network<\/a>.<\/p>\n<p>VASPs will also be obliged to warn about risks associated with trading digital assets.<\/p>\n<p>All platforms must display the following message:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Cryptocurrencies carry a high risk. Please conduct thorough due diligence, as you may lose your entire investment.&#8221;<\/em><\/p>\n<\/blockquote>\n<p>Clients must see the warning and sign an acknowledgement of risk, in accordance with the rules.<\/p>\n<p>Earlier in January 2023, the Commission<a href=\"https:\/\/u1f987.com\/en\/news\/thai-sec-publishes-rules-for-crypto-wallet-operators\">demanded<\/a> that VASPs specializing in custodial services create a digital wallet management system.<\/p>\n<p>Earlier, the Monetary Authority of Singapore <a href=\"https:\/\/u1f987.com\/en\/news\/singapores-mas-orders-bitcoin-exchanges-to-move-crypto-assets-into-trusts\">obliged<\/a> local bitcoin exchanges to transfer clients&#8217; digital assets to trusts for custody by the end of the year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Providers of crypto services in Thailand will be barred from using clients&#8217; funds for lending and investments, in accordance with the local SEC&#8217;s new guidelines.<\/p>\n","protected":false},"author":1,"featured_media":81129,"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":[1166,1097,36,1266],"class_list":["post-81128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-lending","tag-regulation","tag-thailand"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/81128","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=81128"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/81128\/revisions"}],"predecessor-version":[{"id":81130,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/81128\/revisions\/81130"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/81129"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=81128"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=81128"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=81128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}