According to the Bangkok Post, cryptocurrency advertisements that contain false, exaggerated, distorted, concealed or misleading information violate Thai regulations. Regulators in major crypto markets have also taken similar measures to minimize losses on crypto investments. For example, the UK's Financial Conduct Authority (FCA) has issued 450 alerts on illegal cryptocurrency advertisements in 2023 alone. Additionally, in November 2023, Spain's main securities market regulator, the National Stock Market Commission, condemned fraudulent crypto asset promotions on X and reiterated that companies have an obligation to comply with local laws.
Thailand's Securities and Exchange Commission has reminded cryptocurrency exchanges to include appropriate warnings about investment risks and to avoid special promotions to attract new users, warning that breaches of the guidelines would lead to "punishment according to law".
Thai regulators will crack down on deceptive cryptocurrency advertisements
2024-04-29 09:48:36
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