In this regard, the SEC reiterates its warning to DA business operators to fulfill their duties in safeguarding clients’ digital assets in accordance with established criteria, with a primary emphasis on security. Under the SEC’s regulations, DA business operators must take into account risks of fraud and cyber theft, and are prohibited from providing services related to digital assets through business operators who are currently under criminal complaints imposed by the SEC or under legal proceedings in connection with violations involving unlicensed digital asset business operations. 

Mr. Anek Yooyuen, SEC Deputy Secretary-General and Spokesperson, said: “The SEC filed a criminal complaint against Bybit Fintech Limited (Bybit) on 22 December 2023* for operating a digital asset exchange business without a license. As a result, DA business operators are prohibited from depositing their clients' assets with this company. In addition, the SEC has previously submitted information about unlicensed digital asset service providers to the Ministry of Digital Economy and Society, which has taken action to restrict access to such platform** in order to enhance law enforcement efficiency and to prevent criminals from using these channels to launder assets obtained from illegal activities, thereby addressing online crime.” 

The SEC advises the public and investors to be cautious when using the services of unlicensed DA business operators; otherwise, they will not be legally protected and will be at risk of being scammed, as well as facing money laundering risks. The list of licensed business operators is available at www.sec.or.th and the SEC Check First application. Additionally, to verify the names of persons who are not regulated business operators under the SEC’s supervision, please visit the Investor Alert at this link:     https://market.sec.or.th/public/idisc/en/InvestorAlert 

Remark:   

* SEC News No. 257/2023 headlined: “SEC files a criminal complaint against three offenders related to Bybit.com for operating digital asset exchange business without license,” released on 22 December 2023: https://www.sec.or.th/EN/Pages/News_Detail.aspx?SECID=10613&NewsNo=257&NewsYear=2023&Lang=EN  

** SEC News No. 82/2024 headlined: “SEC collaborates with government agencies to restrict access to unlicensed digital asset service platforms,” released on 19 April 2024: https://www.sec.or.th/EN/Pages/News_Detail.aspx?SECID=10744&NewsNo=82&NewsYear=2024&Lang=EN