The new regulations, which became effective this week, mandate that cryptocurrency operators publish obvious danger warnings on advertisements and forbid the inclusion of misleading or overstated information about businesses.
In Thailand, stricter regulations governing cryptocurrency advertising went into force on Thursday, according to a formal notice from the nation’s securities commission.
The current restrictions include a requirement to provide clear risk warnings about investing in cryptocurrency and ban the use of incorrect or inflated information about crypto firms, such as overstated user counts.
The Securities and Exchange Commission (SEC) of Thailand revised the rules after seeing that many advertisements lacked cautionary statements regarding the risks of cryptocurrencies and that some solely displayed “positive information.”
All new cryptocurrency advertisements approaching local users must adhere to the new rules. The SEC requires that updated ads be made within 30 days of the notice’s publication.
While local regulators constantly monitor the cryptocurrency industry, Thailand is moving forward with its efforts to create a central bank digital currency. Bitkub, the largest cryptocurrency exchange in the nation, is being investigated by the SEC for possibly breaking local securities laws.