Thailand has introduced tighter rules that will oblige crypto companies to duly inform potential customers of the investment risks on their advertisements. The new regulations also prohibit businesses in the industry from making misleading or exaggerated claims.Thailand’s Securities and Exchange Commission has approved new requirements for crypto ads, Bloomberg and Reuters reported quoting the regulator.
Thai crypto businesses, which have been advertising heavily through digital media and billboards, must now limit the promotion to official channels such as their own websites. They will also have to provide regulators with information about the advertising terms. The securities watchdog explained in the announcement:
This is right. No one is advertising fiat currencies. It's stupid.
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