Thailand SEC Bans NTFs and Meme-Based Tokens

[MarkRoberts]

Thailand SEC yesterday issued an official guideline that prohibits regional crypto exchanges from supporting non-fungible tokens (NTFs), Meme-Based tokens, fan-based tokens, and exchange-issued tokens.

Under the approval of their secretary-general, the regulatory body, Ruenvadee Suwanmongkol, has given the directive under Notification 18/2564 to go into effect immediately.

The SEC persisted that any cryptocurrencies to be issued by respective exchanges must strictly adhere to the rules, conditions, and procedures directing the undertaking of any digital assets business. Should an exchange fail to adhere to the laid out incentives, the SEC has threatened to have it delisted

Thai SEC has given all regional exchanges 30 days to carry out necessary adjustments. Time is ticking.


Source: https://mycryptoparadise.com/thailand-sec-bans-ntfs-and-meme-based-tokens/