Thailand’s SEC is working to better protect cryptocurrency investors by introducing new rules for crypto custody services.
The Securities and Exchange Commission of Thailand is working to better protect cryptocurrency investors by introducing new rules for crypto custody services.regulations requiring virtual asset service providers to establish a digital wallet management system to guarantee efficient custody. The new rules target crypto custodians or VASPs that provide crypto storage services.
Additionally, the SEC requested crypto custodians provide policies and procedures for designing, developing and managing digital wallets and keys. The authority will also require crypto custodians to establish a contingency plan in case of unforeseen events that may affect the wallet management system.
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