Thai SEC Backpedals on Crypto Trading Requirements

[Shahinaz]

The Securities and Exchange Commission (SEC) of Thailand said it will amend its draft of requirements for cryptocurrency traders amidst backlash to its initial proposal.
The Thai SEC, whose original legislation required prospective cryptocurrency traders to have a minimum income of at least 1 million Thai baht, which is roughly $33,000.

This legislation drew backlash for its excessively high standards. Critics say this would effectively prevent low-to-middle income traders from participating in the crypto markets.

more : https://beincrypto.com/thai-sec-backpedals-on-crypto-trading-requirements/

[TomPluz]

I really don't understand why a good regulatory body in a crypto-friendly country like Thailand would be proposing such a stupid policy that can be hurting ordinary traders interested with cryptocurrency. What they should do is to launch an educational campaign for people to get into, so they can avoid the many pitfalls of this market and make them more empowered to be effective participants and not just limit the number of people that can get into. I am hoping this is a big lesson to SEC Thailand to please talk to the community first and have an open dialogue with the players in the community and market before thinking of an idea that can surely get strong bad reaction from those people.