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Thai SEC (Securities and Exchange Commission) urges public to circumvent unauthorised crypto exchange as stringent regulation set to take effect.
SEC has cautioned the public against 14 websites whose operators persuading clients to transact cryptocurrencies and related products.
Such operators are not authorized to conduct crypto business in the country, the regulatory authorities say. As of now, only seven crypto-firms are momentarily are permitted for crypto operations.
The 14 websites, namely, superrichexchanger.com, payniex.com, egtexchange.com, digicardshop.com, misterchanger.com, thaiexchanger.com, emoneythai.com, i-exch.com, exchangercoin.com, gamershoppings.com, ecurrencyplus.com, ecurrencythailand.com, lnwexchanger.com, and R Exchange’s Facebook page. Some of these websites have removed their crypto offerings after the commission’s warning.
The commission also clarified that it has received grievances about such businesses which have been encouraging the public to buy and sell cryptocurrencies through social media. The regulator further warned the public to take caution when solicited to purchase or sell digital assets by unauthorized individuals.
One of the operators on the list, R Exchange, announced on Nov. 18 that its kiosk at Bangkok’s main airport, Suvarnabhumi, started rendering services from the exchange of seven major cryptocurrencies — BTC, ETH, BCH, ETC, LTC, XRP, and XLM. It is learnt from the announcement that a withholding tax component of 15 pct is also applicable.
Currency Strength Index:FxWirePro's hourly BTC is flashing -77 (bearish), while hourly USD spot index is inching towards 70 levels (which is bullish), while articulating (at 07:23 GMT). For more details on the index, please refer below weblink:
