The Securities and Exchange Commission (SEC) of Thailand has issued new regulations on custodied cryptocurrencies. Companies offering crypto custody services are now required to “establish a digital wallet management system to accommodate efficient custody of digital assets and keys and ensure safety of clients’ assets,” the regulator described.
Thai SEC’s New Crypto Rules
Thailand’s Securities and Exchange Commission (SEC) announced Tuesday that it has issued new rules on the “management of digital wallets for custody of digital assets and keys.” The new regulations went into effect on Jan. 16.
The Thai SEC explained that businesses that provide custody services for clients’ digital assets must:
Establish a digital wallet management system to accommodate efficient custody of digital assets and keys and ensure safety of clients’ assets.
They must also have a “policy and guidelines” in place for the management of “digital wallets and keys as well as communication
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