Bangkok, 10 August 2018 – SEC is warning investors to proceed with caution after discovering various false claims regarding digital asset investment. Meanwhile, SEC has published the list of digital asset intermediaries allowed to continue their business operation on the condition to apply for a license within 14 August 2018.
SEC Secretary-General Rapee Sucharitakul said
that there had been several fraud cases regarding investment in digital assets
which might result in a huge loss for investors. This led to the enactment of the
Emergency Decree on Digital Asset
Businesses B.E. 2561 (2018), which requires that digital token issuers and
digital asset business operators shall obtain approval and/or proper licenses to
alleviate the risk of frauds.
Moreover, it is advisable to be cautious when
being solicited to invest in ICOs or to buy any digital token for the time
being since there are neither approved ICO issuers nor ICO portals recognized
by SEC at this moment. Once there exists an ICO issuer or ICO portal fully
complied with the regulations, SEC will publish such information on the SEC
website.
In the case that any party claims to be an
intermediary, either as digital asset exchange, broker or dealer, SEC suggests that
investors should verify their legitimacy via the list provided on the SEC
website beforehand. Currently, only digital asset business operators who have
been operating since before 14 May 2018 and apply for licenses within 14 August
2018 are allowed to continue their business operation until further instructed,
while obtaining a proper license is mandate for other operators before
beginning the business operation. Therefore, investors are strongly advised to
be extra cautious especially when being approached by someone not on the SEC approved/licensed
list. For inquiries and further information on digital asset investment, call SEC
Help Center Hotline 1207.
“Additionally, as seen in news that the Crime
Suppression Division (CSD) of the Royal Thai Police is investigating a crime of
organized money laundering where the victim had been persuaded and allegedly
conned out of Bitcoins worth approximately 797 million baht. SEC is working
closely with the enforcement personnel to investigate further details and
examine whether there is any violation of laws governing securities and digital
assets. If a violation of law is found, further legal proceedings will follow,”
added SEC Secretary-General Rapee.
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