Thailand SEC to Enforce Strict Guidelines for Crypto Ads
Ads related to cryptocurrencies in Thailand will have to follow strict rules as the Securities and Exchange Commission seeks to mimic foreign standards.
New
The Securities and Exchange Commission (SEC) of Thailand will put in place strict advertising rules for cryptocurrency companies operating in the country by October 2022.
The Thai SEC notified cryptocurrency-related companies operating in the country via email that advertisements for digital currencies must have clear investment warnings for consumers on September 1. The statement was later posted on the SEC's website.
The securities regulator instituted the new standards for cryptocurrency-related advertisements in response to a number of marketing campaigns that failed to include investment risk warnings.
>The new standards will require that advertisements do not make false, misleading or exaggerated claims and include warnings about investment risks. The SEC correspondence also calls for balanced advertising, which would include including potential positive and negative factors related to the products or services promoted.
Companies will be required to limit advertising directly promoting cryptocurrency to "official channels" such as their own websites and will be required to hand over details of advertisements and expenses, including use of influencers and bloggers from social media and their terms, at the SEC.
Related: Strict Thai Crypto Regulations Force SCB to Delay Bitkub Acquisition
Leading cryptocurrency exchanges like Bitkub and Zipmex advertise on large billboards on streets and in transit hubs, promoting their mobile apps and services to potential users in the country. Advertising of the Services is still permitted in public areas per SEC guidance.
Companies have been given a month to comply with the new requirements as the SEC continues to establish frameworks that are positioned to protect retail investors in the country. This includes updating or modifying existing advertisements across print, online and real-world platforms.
The SEC further noted that the move was...
Ads related to cryptocurrencies in Thailand will have to follow strict rules as the Securities and Exchange Commission seeks to mimic foreign standards.
New
The Securities and Exchange Commission (SEC) of Thailand will put in place strict advertising rules for cryptocurrency companies operating in the country by October 2022.
The Thai SEC notified cryptocurrency-related companies operating in the country via email that advertisements for digital currencies must have clear investment warnings for consumers on September 1. The statement was later posted on the SEC's website.
The securities regulator instituted the new standards for cryptocurrency-related advertisements in response to a number of marketing campaigns that failed to include investment risk warnings.
>The new standards will require that advertisements do not make false, misleading or exaggerated claims and include warnings about investment risks. The SEC correspondence also calls for balanced advertising, which would include including potential positive and negative factors related to the products or services promoted.
Companies will be required to limit advertising directly promoting cryptocurrency to "official channels" such as their own websites and will be required to hand over details of advertisements and expenses, including use of influencers and bloggers from social media and their terms, at the SEC.
Related: Strict Thai Crypto Regulations Force SCB to Delay Bitkub Acquisition
Leading cryptocurrency exchanges like Bitkub and Zipmex advertise on large billboards on streets and in transit hubs, promoting their mobile apps and services to potential users in the country. Advertising of the Services is still permitted in public areas per SEC guidance.
Companies have been given a month to comply with the new requirements as the SEC continues to establish frameworks that are positioned to protect retail investors in the country. This includes updating or modifying existing advertisements across print, online and real-world platforms.
The SEC further noted that the move was...
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