Thai SEC Warns Users Against Fake Overseas Crypto Exchanges
- A spokesperson for the Thai SEC claims that several fraudulent platforms have been illegally operating in Thai markets.
Thailand’s Securities and Exchange Commission (SEC) has issued a warning against a new kind of cryptocurrency scam that lures victims into investing with websites that claim to be legal cryptocurrency trading platforms based overseas.
Lieutenant Woranan Silam, a spokesman for the Thai Police’ Department of Special Investigation, pointed on Saturday to “FX Trading Corporation” as one of these fraudulent platforms. According toThe Bangkok Post, the platform “is not authorised to trade in digital currencies as claimed.”
Several other fraudulent platforms “claim to be foreign companies operating outside Thailand offering services via their online portals,” the report explained. “It is not known how much they have ripped off from an unsuspecting public.”
Silam explained that because these companies appear to be operating overseas, Thai authorities will require cooperation from their overseas counterparts in order to investigate the platforms and prosecute their operators, if necessary.
Thailand’s SEC has only authorized four companies to operate digital assets businesses
The Thai SEC has only authorized four companies to operate digital assets businesses: Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Co., Bitkub Online Co., and Satang Corporation Co.; Coins TH Co is the country’s only authorized cryptocurrency broker-dealer.
The Ministry of Finance issued digital asset business licenses to these four crypto-related firms in January of this year “under the recommendation of the SEC Board.”
In March, Finance Magnates reported that the Thai SEC had approved the launch of an ICO Portal. “The first ICO deal will be available for [a] public offering in the near future under the digital asset royal decree,” said Archari Suppiroj, director of the fintech department at the SEC, at the time of the approval.
“In the future, the SEC will issue a criteria that allows companies to apply tokenization to securities and other assets. This will help Bridge Bridge The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service its clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Metat The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service its clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Metat Read this Term the digital asset royal decree and securities law.” The Thai SEC is also reportedly considering issuing a set of guidelines for security token offerings (STO).
In late July, Huobi announced that it would be launching a regulated digital assets exchange in Thailand in Q3 of this year. The Thai Stock Exchange is also planning on launching a digital assets trading platform that will be launched in 2020.
What is Huobi Thailand ?? all about?
Get the details on our soon-to-launch #regulated exchange in Thailand here: https://t.co/uX5e1Utz3e#Thailand#Blockchain#Crypto — HuobiGlobal (@HuobiGlobal) July 26, 2019
Thailand’s Securities and Exchange Commission (SEC) has issued a warning against a new kind of cryptocurrency scam that lures victims into investing with websites that claim to be legal cryptocurrency trading platforms based overseas.
Lieutenant Woranan Silam, a spokesman for the Thai Police’ Department of Special Investigation, pointed on Saturday to “FX Trading Corporation” as one of these fraudulent platforms. According toThe Bangkok Post, the platform “is not authorised to trade in digital currencies as claimed.”
Several other fraudulent platforms “claim to be foreign companies operating outside Thailand offering services via their online portals,” the report explained. “It is not known how much they have ripped off from an unsuspecting public.”
Silam explained that because these companies appear to be operating overseas, Thai authorities will require cooperation from their overseas counterparts in order to investigate the platforms and prosecute their operators, if necessary.
Thailand’s SEC has only authorized four companies to operate digital assets businesses
The Thai SEC has only authorized four companies to operate digital assets businesses: Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Co., Bitkub Online Co., and Satang Corporation Co.; Coins TH Co is the country’s only authorized cryptocurrency broker-dealer.
The Ministry of Finance issued digital asset business licenses to these four crypto-related firms in January of this year “under the recommendation of the SEC Board.”
In March, Finance Magnates reported that the Thai SEC had approved the launch of an ICO Portal. “The first ICO deal will be available for [a] public offering in the near future under the digital asset royal decree,” said Archari Suppiroj, director of the fintech department at the SEC, at the time of the approval.
“In the future, the SEC will issue a criteria that allows companies to apply tokenization to securities and other assets. This will help Bridge Bridge The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service its clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Metat The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service its clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Metat Read this Term the digital asset royal decree and securities law.” The Thai SEC is also reportedly considering issuing a set of guidelines for security token offerings (STO).
In late July, Huobi announced that it would be launching a regulated digital assets exchange in Thailand in Q3 of this year. The Thai Stock Exchange is also planning on launching a digital assets trading platform that will be launched in 2020.
What is Huobi Thailand ?? all about?
Get the details on our soon-to-launch #regulated exchange in Thailand here: https://t.co/uX5e1Utz3e#Thailand#Blockchain#Crypto — HuobiGlobal (@HuobiGlobal) July 26, 2019