According to the notice issued by the SEC, “The SEC has issued an announcement to improve the rules for advertising and promotion of digital asset business operators. Operators must give details of ads and spending including the use of influencers and bloggers to the SEC including terms and time frame.”
Thailand’s SEC issued an amendment to the advertising regulations for crypto firms and businesses.
In a bid to clamp down on the false advertising prevalent in the crypto industry, Thailand SEC added tighter rules for the advertising of crypto businesses.
The official notice released by the SEC states that the regulatory firm discovered that many crypto firms did not display proper warnings about the risks associated with investing in crypto; some platforms only display the positive factors of crypto investments to persuade people to use their services.
As a result, the crypto businesses operating in Thailand must submit details of their advertising costs, including partnerships with bloggers or influencers, to the SEC.
Additionally, all crypto-related platforms are required to display easy-to-notice warnings about the negative factors of crypto investments in their advertisements. Moreover, the SEC claims that the advertising of cryptocurrencies can only be carried out via the crypto firm’s official channel(s).
The notice also states that all advertisements published after September 1, 2022, must follow the newer advertising policies. Additionally, all existing crypto firms must update their advertisements within 30 days of the publication of the notice.
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