Thailand issues new regulations for kryptocurrencies - regulation
Thailand issues new regulations for kryptocurrencies - regulation
The Securities and Exchange Commission (SEC) from Thailand has issued new regulations on kryptocurrencies. Companies that offer crypto attitude services must now “set up a digital wallet management system in order to enable efficient custody of digital assets and keys and to ensure the safety of the assets of customers”, described the supervisory authority.
The new crypto rules of the Thai SEC
The Thai Securities and Exchange Commission (SEC) announced on Tuesday that it issued new rules for the "Administration of Digital Issues for the Custody of Digital Values and Key". The new regulations came into force on January 16
The Thai SEC explained that companies that offer custody services for the digital assets of customers must do the following:
You also have to have a "guideline and guidelines" for the management of "digital wallets and keys as well as the communication for clarifying such guidelines, action plans and procedures, labor supervision and internal control to ensure compliance with the directive". Sek noted.
The regulatory authority said that the companies are also obliged to "develop guidelines and procedures for the design, development and administration of digital wallets as well as the appropriate, safe and safe creation, care and access to keys or other associated information.
In addition, providers of crypto storage services must create an "emergency plan in the event of an event that could affect the administrative system of digital wallets and keys," explained the Thai Sec. "This includes the lining and testing of action processes, the naming of responsible persons and the report of the event."
The securities supervision continued:
A testing of system security is also required as well as a digital forensic examination in the event of an event that affects the safety of systems in connection with the custody of digital assets and could have a significant impact on the assets of customers.
existing crypto service providers Before the new regulations come into force, the new regulations must fully meet within six months from the date of the entry into force of the new regulations.
The Thai SEC has reinforced its efforts to protect investors in terms of crypto. At the beginning of this month, the regulatory authority Krypto academy to inform digital assets.
What do you think of the new rules of the Thai SEC to manage krryzurrencies that are kept? Let us know in the comment area below.
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