Thailand’s government has enacted new rules aimed at restricting cryptocurrency advertising in
the Southeast Asian country.
The new rules implemented by Thailand’s securities regulator prohibit the inclusion of false or misleading information about cryptocurrencies or the companies selling digital coins and tokens.
Going forward, cryptocurrency ads in Thailand must include clear warnings about the risks associated with the assets and investing in products such as Bitcoin (BTC) and Ethereum (ETH).
The Thai Securities and Exchange Commission (TSEC) has amended existing regulations related to advertisements after saying that many ads in the country included inflated user data and misleading information about cryptocurrencies and the wealth they can generate.
The new regulations apply to all new cryptocurrency advertisements that target citizens of Thailand. Existing advertisements must be revised within 30 days or be permanently removed, according to the securities regulator.
Thailand is pushing forward with a central bank digital currency, while local regulators are closely watching the country’s cryptocurrency sector.
Thailand’s largest cryptocurrency exchange, Bitkub, is currently under investigation by the regulator for allegedly breaking securities laws.
