SEC warns DeFi transactions must comply with the law

However, according to the Royal Decree on Doing Digital Asset Business B.E. 2561 (According to the Digital Assets Act), issuing digital tokens must be authorized by the SEC Office. Must disclose information as specified. and offering through digital token offering system providers approved by the SEC

It also requires digital asset operators, including exchange, digital asset brokerage, digital asset dealer, private fund management and investment advisor. advisor) must be licensed by the Minister of Finance. and must comply with the rules, procedures, and conditions for doing business under the licensed category.

Therefore, if the activities that occur in the DeFi project in Thailand, digital tokens are issued to users. May qualify as a licensed digital token offering. and if the nature or form of service is in the scope of any of the aforementioned types of digital asset business It must be licensed and comply with the specified rules.

Including in the case that the digital asset trading center operator brings digital tokens for sale to register for trading in the trading center Must comply with the Listing Rules approved by the SEC. In addition, other activities such as lending, giving prizes or sweepstakes. may also be required to comply with applicable laws and regulations.

Operators and anyone who will deal with such DeFi should consider before proceeding that a DeFi transaction that will provide the service is considered a digital token issuance. and whether the digital asset business must be licensed or not Failure to do so will result in the issuance of digital tokens or digital asset business without permission, which is punishable under the Digital Assets Act. including studying and complying with other laws related to

Traders should study the DeFi project before getting involved in both technical and security aspects. including terms, conditions and functionality written on the system Related Risks And should check whether the service provider is a digital asset business that is licensed and regulated by the SEC or other regulatory agencies under law.

You can check the list of business operators under the SEC’s supervision from the SEC Check First application or the SEC website. Topic: digital assets And ask for information or report clues at the SEC People’s Service Center, Tel. 1207.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.