Thailand's SEC issued a public warning against cryptocurrency scam
Thailand’s SEC alerted people against overseas crypto -traders

Thailand’s Securities and Exchange has issued a warning and alerted people against a new cryptocurrency scam that has been luring Thai investors into making crypto investment. As per the reports, scam enterprises pose as legitimate virtual currency trading platforms operating from overseas.

A spokesperson from the Department of Special Investigation told media that FX Trading Corporation was not authorized to trade cryptocurrencies as claimed. A spokesperson further said, there are several other companies similar to the FX Trading Corporation that manage their services and operations outside Thailand through online portals.

Currently, the SEC has given authorization to only four entities for running the crypto business – Bitcoin Co., Bitkub Online Co., and Satang Corporation Co., whereas, Coins TH Co. is the only firm that has been authorized to operate as a licensed digital currency dealer in the country. The Ministry of Finance issued licenses to these firms in January of this year under the recommendation of the SEC Board.

Source – Finance Magnets

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