25 February 2021 15:00, UTC

Anna Martynova

According to a Bloomberg report, with retail demand for cryptocurrency investments growing, Thailand is considering introducing new rules requiring traders to confirm their income and assets before opening an account on a cryptocurrency exchange.

The Thai government is concerned about the influx of young people into volatile digital currency markets to make quick profits. Thailand already has strict regulations for crypto exchanges that need to obtain licenses before starting operations in the country. There are currently six licensed crypto exchanges operating in the country.

The Thai SEC is expected to unveil a new set of cryptocurrency trading rules later this week, but they will be finalized after consultation with market participants on the restrictions.

Image: Coinfomania

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