Thailand has followed in Singapore’s footsteps by banning crypto exchanges from offering lending and staking services to retail investors.
Thailand becomes the second Southeast Asian nation to ban crypto staking activities for retail investors.
Thailand Bans Lending and Staking Services
The Thai SEC announced it is banning crypto exchanges from offering lending and staking services. On Monday, the securities agency issued new rules for digital asset service providers aiming to improve investor protection.
According to the Thai SEC:
It is forbidden to advertise or persuade the general public or do any other act in the manner of supporting the deposit staking & lending service.
The regulator explained the ban applies to “depository services that offer returns to depositors and lenders,” meaning exchanges are outright banned from offering such services. The SEC’s new rules will take effect on July 31, 2023.
Under the new rules, the SEC also introduced a mandatory trading risk
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