New Rules of Thai SEC Bans Exchanges from handling 4 different types of token including NFT’s

Thailand’s Securities and Exchange Commission had authorized regulation forbidding #crypto exchanges in the country from supporting four different types of tokens such as

• Fan-based tokens
• Handling meme-based tokens
• Nonfungible tokens (NFTs)
• Exchange-issued tokens

For tokens issued by exchanges, the SEC stated that any cryptocurrencies needed to comply with the descriptions on their respective white papers in addition to any present regulations for digital #currency. If exchanges did not meet these situations, the regulatory body stated they must delist the token. They have 30 days to reform their rules for listing tokens to comply with the brand-new regulations.

This change in policy would purportedly affect tokens including #Dogecoin (DOGE), a meme-based #cryptocurrency whose price has risen significantly since last year, as well as Bitkub Coin (KUB), the native token of the local crypto exchange of the same name.

🔎 HEADLINES