Thailand’s Securities and Exchange Commission (SEC) has taken action against several crypto lending platforms operating without proper licenses in the country.
The SEC has ordered these platforms to cease operations immediately and return funds to investors. Thailand’s regulatory stance on crypto lending has tightened following the collapse of several global lending platforms, with regulators focusing on protecting investors from high-risk financial products.
The crackdown highlights the growing regulatory scrutiny in Southeast Asia, where the popularity of cryptocurrency lending and staking products has surged.
The SEC’s actions are part of broader efforts to create a more transparent and secure environment for cryptocurrency users in Thailand.
