Thai SEC Suggests Banning Crypto Lending, Staking
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The Thai Securities and Exchange Commission has proposed another limitation for the local crypto market, which would bar businesses from offering crypto staking and other lending services.

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In a press release for the consultation paper, the financial watchdog suggested prohibiting crypto business operators from providing or getting involved with crypto staking and lending services. The Commission claims the ban would provide "greater protection to investors" as well as reduce associated risks.

The regulator says the move should solve the misunderstanding between investors as many might think that crypto staking and lending services are under the same supervision as regulated crypto businesses. The public discussion on the matter will last until April 7, 2023.

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This is Thailand's second attempt to scrutinize the staking industry. In September last year, the Thai SEC also proposed barring crypto companies from offering staking and lending services. Back then, the regulator was also stating that the prohibition was meant to "provide greater protection to investors and reduce associated risks."

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