Booming Crypto Market has Thai SEC Setting Registration Deadline For Digital Asset Managers

CRYPTONAIRE LYWEEK

CRYPTO investment journal

Booming Crypto Market has Thai SEC Setting Registration Deadline For Digital Asset Managers

On Monday, the Thailand Securities and Exchange Commission (SEC) unveiled numerous announcements that will affect virtual and crypto asset portfolio managers.

Beginning February 24, all asset managers and crypto investment advisers will need to apply for operating licenses from the regulator, the Bangkok Post reports.

According to the Thailand SEC, a virtual asset investment adviser is anyone who offers advice in regards to the trading of cryptos or digital tokens and receives remuneration from such services. Therefore, the latest regulations will apply to portfolio managers as well as digital asset fund distributors.

Before this announcement, fund managers dealing with assets not covered by the legal definition of futures contracts, securities, or other equivalent financial instruments were not under SEC supervision. Also, investors dealing with unregulated portfolio managers were not covered by investor compensation funds.

Although crypto exchanges have been operating under the SEC’s supervision, investors had little or no guidance when it came to portfolio managers. The regulator is now seeking to enhance crypto and digital assets oversight via fine-tuning the existing asset management regulations. Read more...

CRYPTONAIRE LYWEEK

CRYPTO investment journal