Thailand’s Securities and Exchange Commission (SEC) has announced plans to hold a public hearing to decide what qualifications should be imposed on retail investors opening new cryptocurrency trading accounts.
The regulator is concerned about investor safety amid the recent rise in cryptocurrency prices and the resulting flood of new accounts on local exchanges, CoinDesk cited a report by the Bangkok Post. The regulator aims to determine if new crypto investors have enough experience and are in a financial position to deal with the risks of cryptocurrency trading and volatile price swings.
So far, the SEC reported 124,000 new accounts in the first week of February 2021, bringing the total number of accounts to 594,000 as of Feb. 8, according to the Bangkok Post’s report. CoinDesk attempted to contact the SEC to ask for more details on the hearing but had not received a response by press time.
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