Thailand SEC to Crack Down on Deceptive Crypto Ads

The Securities and Exchange Commission of Thailand (SEC) has urged all operating cryptocurrency exchanges to standardize their promotional methods and strictly follow relevant advertising standards. Anek Yooyuen, deputy secretary-general of the SEC, expressed concern about this, especially pointing out that the practice of exchanges offering special offers to new users may cause problems. According to the Bangkok Post, Thai law strictly prohibits cryptocurrency advertisements that contain false, exaggerated, distorted or misleading information. The SEC once again reminded exchanges to make investment risks clear in their advertisements and avoid attracting new users through special promotions. Violators will be punished according to law. According to Thailand's advertising guidelines, companies must verify the facts stated in the advertisements, otherwise they will bear legal risks. (Cointelegraph)