Thailand has announced a ban restraining crypto exchanges in the country from providing lending services, following the example of Singapore.
Regulators globally are taking such steps to avoid a situation similar to the FTX collapse.
The Thai SEC has also mandated a trading risks disclaimer that must be clearly visible to the customers, which reads: Before authorizing the use of the service, exchange operators must ensure that consumers understand the risks. Furthermore, exchanges should assess each customer to analyze how much a customer can invest in crypto.Thailand is the second Southeast Asian country to ban crypto lending. Singapore alsocrypto payments, except allowing consumers to invest in it as an asset.
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