SEC
Secretary-General Pornanong Budsaratragoon said: “On 19
April 2024, the Technological Crime Prevention and Suppression Committee passed
a resolution for the SEC to share the information on unlicensed digital asset
service providers with the DE. This aims to block access to these platforms, strengthen
law enforcement, and prevent scammers from using such platforms to launder unlawfully
obtained assets. This marks another step in combating cybercrime.”
Next, the SEC will submit the information on relevant cases to the DE for
further processing and requesting for the court approval. In so doing, the SEC emphasizes
the importance of considering potential impacts on the public who use these digital
asset platforms and gives them time to manage their accounts before access is
restricted. Similar actions to block unlicensed platforms are also observed in foreign
countries such as India and the Philippines.
Previously, the SEC
enforced the law against unlicensed digital asset business providers who
solicit their services in Thailand. In exercising its roles and
responsibilities, the SEC filed criminal complaints with the Economic Crime
Suppression Division of the Royal Thai Police (ECD) against offenders,
including foreign platforms such as Binance* and Bybit Fintech Limited
(Bybit)**
Additionally, the SEC has suggested the investors withdraw their assets
from those unlicensed platform.
The SEC
strongly advises the public and investors to be cautious when dealing with
unlicensed digital asset business operators as there is no legal protection and
instead they may be at risk of being scammed or caught in the middle of money
laundering. To check the list of licensed operators, please visit www.sec.or.th or use the SEC Check First
application. To check the list of individuals who are not regulated by the SEC,
please go to Investor Alert via this link: https://market.sec.or.th/public/idisc/th/InvestorAlert.
To
report tips on suspicious activities, please contact the SEC Complaint Center via
Hotline 1207 or through SEC Office Facebook Page or SEC Live Chat on the SEC
website for further in-depth investigation.
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Remark:
* SEC
News No. 125/2021 headlined: “SEC files a criminal complaint against Binance
for operating digital asset business without license,” released on 2 July 2021:
https://www.sec.or.th/EN/Pages/News_Detail.aspx?SECID=9017
** SEC News No. 257/2023 headlined: “SEC files a
criminal complaint against three offenders related to Bybit.com for operating
digital asset exchange business without license,” released on 22 December 2023:
https://www.sec.or.th/TH/Pages/News_Detail.aspx?SECID=10372