Thai SEC Forbids Local Crypto Firms From Offering Staking and Lending Services

By enforcing the ban, Thailand’s SEC wants to ensure maximum security for local cryptocurrency participants. Thailand’s Securities and Exchange Commission (SEC) prohibited domestic cryptocurrency entities from providing staking and lending services to clients. The ban aims to protect traders and the public from risks related to such activities. According to a press release, Thailand’s SEC banned local cryptocurrency business operators from offering or supporting digital asset depository services such as staking and lending. The watchdog raised hopes that the move will ensure maximum protection for local investors.