Earlier, the SEC received tips from the concerned public and stakeholders that unlicensed digital asset business operators, both local and foreign, were soliciting investments and services to the public at a financial technology exhibition held at a shopping center. The SEC thus conducted an on-site investigation to collect evidence. 

Today, the SEC and the ECD inspected the exhibition booths at the fintech expo and found a number of business operators who may be liable to undertaking securities business, derivatives business or digital asset business without license. Additional evidence was collected. If any actions are found to be in violation of the laws enforced by the SEC, legal proceedings may be initiated, which could result in imprisonment and fines. In case of possible legal violations of other laws outside the SEC’s jurisdiction, the SEC will coordinate with relevant authorities to take an appropriate action.

The SEC urges the public and investors to exercise caution when using services of securities business operators, derivatives business operators or digital asset business operators who have not obtained a respective license, as well as foreign digital asset business operators. This is because such unlicensed activities do not come with legal protection, and the investing public is exposed to the risk of falling victim to scams. The SEC also warns the exhibition organizer to be cautious of allowing unlicensed business operators to participate in the exhibition; otherwise, it could be considered rendering support to illegal activities. The public and investors can verify the list of licensed business operators on the SEC website at www.sec.or.th or through the SEC Check First application. To report suspicious activities, please contact the SEC through the SEC Public Service Center Hotline at 1207, the official SEC Facebook Page at “สำนักงาน กลต.” (Office of the SEC), or SEC Live Chat at the SEC website. 

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