In February 2021, the Thai Securities and Exchange Commission (SEC) will hold hearings to develop requirements for investors opening cryptocurrency accounts. Bangkok Post reports.
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According to the publication, the move was prompted by an influx of traders amid the rise of Bitcoin and other cryptocurrencies.
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The Thai SEC intends to determine the level of sophistication and financial standing of investors to gauge their readiness for risks stemming from the volatility of digital assets.
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“We must establish some screening criteria: age, trading experience, income level or wealth to limit risks,” said Ruenvadee Suwanmongkol, the secretary-general of the regulator.
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According to him, such measures are already in place for high-yield bonds, which are available only to certain categories of investors.
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In January 2021, the Stock Exchange of Thailand excluded the ability to trade cryptocurrencies on its digital asset platform.
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