The Thailand’s Securities and Exchange Commission (SEC) has opened a consultation period for comment on policies that will allow exchanges or individuals connected to an exchange to issue utility tokens, According to in a statement on Friday.
Under the proposed policies, the exchanges need to reveal the names of anyone associated with the token providers, which will help the SEC in monitoring for insider trading signs. The plan is part of Thailand’s efforts to establish a regulation framework for the crypto industry.
https://www.youtube.com/watch?v=wjs2kxhdexg
The country announced in May Plan to allow tourists to spend crypto by credit cards, just a few days ago Blocking Crypto exchanges are OKX and Bybit In the country about concerns about unlicensed operations and launching money. One month later, it announced a Waiver on Capital Gains Tax on Crypto Sales Made by licensed crypto service providers.
Thailand was home to a Crypto Insider trading scandal in 2022. In August of that year, the SEC said Bitkub’s chief technology official, one of the largest exchanges in the country, used insider information To buy some tokens leading to a major deal.
Related: Kucoin expands to Thailand with approved SEC exchange
The trading of insider in crypto
Insider trading is the gesture of buying or selling a security Based on private, not public information. Skills are considered illegal in many constituents, but the exact rules depend on the regulate body, such as the corresponding security and exchange commissions.
There It has been several instances of the alleged trading of insider In the crypto market industry.
In 2021, the opening employee Nate Chastain was accused of using insider’s knowledge to buy NFTs that are about to be featured in the Opensea Homepage. Chastain was convicted in 2023 by wire and laundering of money and money laundering and punished up to three months in prison.
In 2022, three coinbase employees were Said In the trading of the insider. Two of them are punished In prison.
Most recently —but, Binance Suspended a staff in March after an investigation of the alleged trading of the insider. There are also allegations of trading of insider The memecoin official of US president Donald Trump is officially Trump (Trump), after a blockchain analytics firm reviewed the unusual behavior of a whale wallet.
Magazine: Crypto adventures of Trump’s crypto raises conflict of interest, insider trading questions
