SEC’s Warning to Exchanges
Thailand’s Securities and Exchange Commission (SEC) has issued a warning to crypto exchanges about misleading advertising. Exchanges must ensure their ads are accurate and focus on protecting investors.
Regulatory Compliance
Exchanges must adhere to regulatory rules, including:
- Avoiding false or exaggerated claims
- Disclosing risks clearly
- Not pressuring customers into investments
IBA Restrictions
Introducing Broker Agents (IBAs) can only promote digital tokens for investment purposes, not speculation.
Global Regulatory Concerns
Regulating crypto advertising has become a global issue:
- Spain requires advance notice and risk warnings for ads.
- The UK has introduced stricter rules to prevent scams.
Celebrity Endorsements
Celebrities and influencers have been involved in crypto fraud cases, such as the EthereumMax scandal.
SEC’s Enforcement
The SEC has taken action against celebrities for promoting cryptocurrencies without disclosing compensation.
Gary Gensler’s Reminder
SEC Chair Gary Gensler emphasized that crypto promotions must comply with regulatory guidelines.
