Thailand Bans Crypto Lending Services
Thailand is the second Southeast Asian country to impose a ban on cryptocurrency exchanges that provide lending services today, as the country’s regulators prioritise investor protection in its crypto policy.
Earlier, it was revealed that Singapore has prohibited exchanges from providing loan and staking services to retail consumers.
Thailand’s Securities and Exchange Commission (SEC) published similar restrictions today in a press statement.
The decision clearly states that the ban applies to “depository services that offer returns to depositors and lenders,” thereby prohibiting exchanges from offering both lending and staking services.
(With inputs from Shikha Singh)
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