The Securities and Exchange Commission of Thailand (SEC) is cracking down on misleading advertising in the cryptocurrency sector to protect investors.
In a statement issued yesterday, the regulator urged all crypto exchanges to avoid extolling or exaggerating the potential return on cryptocurrency investments.
These measures have been taken in response to advertisements containing false or misleading information, which is against Thai regulations.
Other major cryptocurrency markets, such as the UK and Spain, have also implemented similar measures to prevent investors from falling victim to fraudulent practices in the sector.
The SEC has reiterated the importance of crypto exchanges including adequate warnings about the risks of investing and refraining from luring new users with special offers.