- The SEC in Thailand is set to make changes to the current crypto laws in 2020.
- Thailand wants to ensure they remain competitive, as detailed by the SEC secretary-general.
Lawmakers in Thailand are planning to reform cryptocurrency laws, after speaking about concerns that they have made regarding the country being potentially uncompetitive.
Thailand’s financial regulator, the Securities and Exchange Commission (SEC) wants to reconsider its crypto policy in 2020. The reasoning behind this is given the poor uptake of its certification and licensing scheme by cryptocurrency businesses.
Ruenvadee Suwanmongkol, the secretary-general of the SEC said:
The regulator must be flexible to apply the rules and regulations in line with the market environment.
He further added:
For example, laws should not be outdated and should serve market needs, especially for new digital asset products, and be competitive with the global market. We need to explore any possible obstacles.
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