Both risky and high volatility: the SEC warns 6 points before deciding to invest in cryptocurrencies
Bitcoin plunges into Tesla share price
On February 25, 2021, the reporter reported. The Securities and Exchange Commission or the SEC welcomes opinions on the determination of investors’ qualifications in cryptocurrencies. And set rules for business operators to test their knowledge (knowledge test) of investors before providing services for investing in digital assets In order to have an appropriate investor protection mechanism Consistent with the risk level of the product, ready to listen to the opinions of the public and stakeholders until March 27, 2021 and hold a discussion to listen to their opinions via the Facebook live page “SEC Office” on the 24th. March 2021
For property financial position of cryptocurrency investors
- Have annual income Not including the spouse of 1 million baht or more or
- Have net assets of 10 million baht excluding real estate value Which is used as a regular residence or
- Worth investing in securities Futures contract Or digital assets of 5 million baht or more
Knowledge qualifications It must be an investor who has experience investing in cryptocurrencies or has experience investing in securities. Or derivatives for not less than 2 years or a Professional as specified by the office
In the event of other investors who do not meet the above requirements Will not be able to invest in cryptocurrencies directly. It is only possible to invest in cryptocurrencies through authorized people who operate the digital asset capital manager business.
However, when opening an account, use the new service Digital asset business operators must set a minimum amount for opening an account of at least 1,000 baht.
Due to cryptocurrencies (cryptocurrency) is a new and highly volatile form of financial innovation. Investing in cryptocurrencies requires knowledge, understanding and the ability to take the risk of sustaining investment losses. The Securities and Exchange Commission (SEC), therefore, has the idea to define the qualifications of investors in cryptocurrencies in order to have an appropriate investor protection mechanism and in line with the level of investor confidence. Product risk
The SEC therefore welcomes opinions on the principles of defining the qualifications of cryptocurrency investors and requiring a knowledge test prior to the provision of digital asset investment services. For consideration of the following appropriate criteria, for example: (1) Considering the financial and / or cognitive qualifications for investors in cryptocurrencies. For investors who do not fall into the specified qualifications Able to invest through a licensed digital asset fund manager and (2) requires a digital asset business operator to arrange a knowledge test before starting. Provide services to investors
The SEC has published a document to receive opinions on the revision of the aforementioned criteria at https://bit.ly/3knvOOk Relevant persons and interested parties can express their opinions at the website or by e-mail: [email protected] and [email protected] until March 27, 2021. Discussion through the Facebook Live Page “SEC Office” on March 24, 2021 from 2:00 – 4:00 pm.
Photo: INA FASSBENDER / AFP
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