Block Journal
No Result
View All Result
  • Login
en English
nl Nederlandsen Englishfr Françaisde Deutschit Italianopt Portuguêsru Русскийes Españolth ไทยzh-CN 简体中文hi हिन्दीja 日本語
  • Home
  • News
  • Crypto
  • Markets
  • Investing
  • Glossary
  • Videos
  • Charts
    • Crypto
    • Forex
    • Stocks
    • Commodities
  • Magazine
Magazine
Newsletter
  • Trending Now
  • Bitcoin
  • Altcoin
  • Ethereum
  • Analysis
  • Blockchain
  • Metaverse
  • NFT
  • DeFi
  • Web3
  • GameFi
  • ICO
  • Legal
  • Security
Block Journal
  • Home
  • News
  • Crypto
  • Markets
  • Investing
  • Glossary
  • Videos
  • Charts
    • Crypto
    • Forex
    • Stocks
    • Commodities
  • Magazine
en English
nl Nederlandsen Englishfr Françaisde Deutschit Italianopt Portuguêsru Русскийes Españolth ไทยzh-CN 简体中文hi हिन्दीja 日本語
No Result
View All Result
Block Journal
No Result
View All Result
  • News
  • Crypto
  • Markets
  • Investing
  • Videos
  • Charts
Home Crypto Legal

SEC of Thailand wants public feedback on crypto lending, staking ban

News Room by News Room
March 13, 2023
in Legal
Reading Time: 2 mins read
0 0
A A
0

Thailand’s Securities and Exchange Commission (SEC) is preparing to hold a new public hearing on a potential ban on staking and lending services in the country.

Thailand’s SEC officially announced on March 8 that the authority is seeking public comments on a draft regulation prohibiting virtual asset service providers (VASPs) from providing or getting involved in any type of crypto staking and lending transactions.

According to the SEC’s policy, VASPs should not be allowed to deploy users’ deposits and provide lending services in order to prevent possible damage to investors in a possible event of services’ termination. Additionally, the draft regulation is expected to further clarify the scope of supervision of digital asset businesses because they are currently not fully supervised, the SEC stated, adding:

“The proposed regulation aims to provide greater protection to investors, reduce associated risks, and prevent a misunderstanding that deposit taking and lending services are under the same supervision as regulated digital asset businesses.”

In the announcement, the securities regulator mentioned that the SEC conducted a public hearing on the principle of the proposed regulation in September and October 2022. The draft regulation would essentially prohibit VASPs from operations like accepting user deposits for lending, staking and any further deployment of such assets, offering interest payouts on crypto holdings, as well as advertising any of such services.

The authority has invited stakeholders and interested parties to submit their feedback and suggestions via the SEC’s website or email by April 7, 2023.

Related: SEC snubbed as Voyager wins court approval for sale to Binance.US

The news comes amid the SEC of Thailand beefing up the country’s cryptocurrency rules in response to the ongoing crisis in the crypto lending industry.

A wide number of major industry lenders — including Voyager Digital, Celsius Network, Genesis Global, Babel Finance and Hodlnaut — have encountered serious liquidity issues amid the ongoing crypto bear market, pushing some firms to either restructure or liquidate their business. Gemini, a major crypto exchange founded by Tyler and Cameron Winklevoss, is facing a lawsuit from the United States’ SEC for alleged violations in its “Earn” program, designed to offer investors up to 8.05% in annual gains.

Read the full article here

ShareTweetSharePinShareShareSend

Related News

Tuberville bill would block Chinese ownership of US crypto companies
Legal

Tuberville bill would block Chinese ownership of US crypto companies

June 9, 2023
Pro-Ripple Lawyer Highlights Monumental Day for Crypto Due to These Three Events
Legal

Pro-Ripple Lawyer Highlights Monumental Day for Crypto Due to These Three Events

June 9, 2023
Gensler lays out paths for crypto compliance, criticizing Binance and Coinbase
Legal

Gensler lays out paths for crypto compliance, criticizing Binance and Coinbase

June 9, 2023
The Full List of Cryptos Named Securities in SEC Lawsuits Against Binance and Coinbase
Legal

The Full List of Cryptos Named Securities in SEC Lawsuits Against Binance and Coinbase

June 9, 2023
Elizabeth Warren Wants Another DOJ Investigation Into Binance, Binance US
Legal

Elizabeth Warren Wants Another DOJ Investigation Into Binance, Binance US

June 9, 2023
Crypto firms beefing up legal support amid regulatory crackdown
Legal

Crypto firms beefing up legal support amid regulatory crackdown

June 9, 2023
Paradigm wants the SEC to withdraw its ‘incoherent’ proposed definition of exchanges
Legal

Paradigm wants the SEC to withdraw its ‘incoherent’ proposed definition of exchanges

June 9, 2023
Rumor: Gary Gensler Accused Of Market Manipulation In $2.5 Million Short Position
Legal

Rumor: Gary Gensler Accused Of Market Manipulation In $2.5 Million Short Position

June 9, 2023
New Stablecoin Bill Drafted by House Republicans as Compromise With Democrats
Legal

New Stablecoin Bill Drafted by House Republicans as Compromise With Democrats

June 9, 2023

Discussion about this post

Latest News

Rep. Davidson Declares War on SEC Boss Gary Gensler Over ‘Long Series of Abuses’

Cryptocurrencies Can’t Be Allowed to Undermine Public Trust in Capital Market, Gensler Says

June 10, 2023
AUD/USD bears in the market but China could be its savior

AUD/USD Price Analysis: Bulls eye break of 0.6750

June 10, 2023
Wall Street rises on hopes of Fed pausing hikes, debt ceiling deal cheer

Salesforce’s generative AI integration ‘to offer significant long-tailed growth opportunities’ – Goldman Sachs

June 10, 2023
Mark Zuckerberg says Meta may be ‘primary beneficiary’ of Apple Vision Pro headset

Mark Zuckerberg says Meta may be ‘primary beneficiary’ of Apple Vision Pro headset

June 10, 2023
Stocks to Watch: Aehr Test Systems, Roku, Cingulate

Nightcap to Buy Certain DC Bars Assets for Up to GBP4.7 Mln

June 10, 2023
ADVERTISEMENT

Popular

  • Canada’s budget measures brighten funding prospects for critical miners

    Danske Bank raises profit goal, puts Norway retail unit up for sale

    0 shares
    Share 0 Tweet 0
  • Slump in global cashew demand pushes Ivory Coast industry to verge of collapse

    0 shares
    Share 0 Tweet 0
  • EUR/USD has likely bottomed out for now – Nordea

    0 shares
    Share 0 Tweet 0
  • Iran’s president visits Syria as he seeks to bolster Tehran’s sway over ally

    0 shares
    Share 0 Tweet 0
  • Sci-fi writer Ted Chiang: ‘The machines we have now are not conscious’

    0 shares
    Share 0 Tweet 0
Block Journal

Block Journal is the world’s leading source in blockchain news and updates. Follow us to stay up-to-date with all you need to know in web3.

LEARN MORE »

Recent Posts

  • Cryptocurrencies Can’t Be Allowed to Undermine Public Trust in Capital Market, Gensler Says
  • AUD/USD Price Analysis: Bulls eye break of 0.6750
  • Salesforce’s generative AI integration ‘to offer significant long-tailed growth opportunities’ – Goldman Sachs

Trending Topics

Altcoin Analysis Bitcoin Blockchain Commodities Crypto DeFi Ethereum Forex Futures GameFi ICO Investing Legal Markets Metaverse News NFT Security Stocks Uncategorized Videos Web3

Get Informed

The most important crypto and finance news and events of the day

Be the first to know latest important news & events directly to your inbox.

By signing up, I agree to our TOS and Privacy Policy.

  • About
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact

Copyright © 2023 Block Journal - Created by Sawah Solutions.

No Result
View All Result
  • Home
  • News
  • Crypto
  • Markets
  • Investing
  • Glossary
  • Videos
  • Charts
    • Crypto
    • Forex
    • Stocks
    • Commodities
  • Magazine

Copyright © 2023 Block Journal - Created by Sawah Solutions.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.