After a meeting of the Technology Crime Prevention and Suppression Committee, Thailand’s Securities and Exchange Commission (SEC) has been instructed to provide the Ministry of Digital Economy and Society with information regarding unlicensed digital asset service providers. The aim is to prevent access to these platforms. As a result of their examination of the impact on users, the SEC has decided to give users time to manage their accounts before they are unable to utilize the site.
In its announcement, the SEC requested users of the platform to quickly withdraw their assets. Thailand’s regulators are working to strike a balance between promoting the cryptocurrency economy and combating fraud. They have implemented a strategic move that targets earnings derived from investment tokens.
This move grants investors an advantage by exempting these profits from personal income tax calculations.