The younger generation in Thailand is showing more and more interest in investing in cryptocurrencies. The Prime Minister of the country warned young investors about the need to assess the risks.
Thai Prime Minister Prayut Chan-o-cha urged young investors to be careful. He expressed satisfaction that “the new generation is interested in investing,” but asks novice investors to understand the possible investment risks and be able to accept all the losses. The most important thing, in his opinion, is the choice of a service provider, which must be licensed by the Thai Securities and Exchange Commission (TSEC).
Prayut Chan-oha recommended that before making a decision, conduct at least a little research and carefully consider future investments. In an address to the parents of underage investors, he asked to be careful when opening trading accounts for their children, stressing that “investing minors should be under close parental control.”
“Young people of the next generation, including parents, are encouraged to study the data and learn every time before investing in order to understand the risk characteristics of an investment. Assess yourself if you can accept the risks that may arise, including checking the legality of the service provider. Don’t be fooled by advertising for any digital asset investor, ”said the prime minister.
According to the Thai SEC, about 1.49 million cryptocurrency accounts are registered with an average daily turnover of about $ 198 million, of which about 311,000 are active. Approximately 50% of traders are under 30 years old.
The Thai government is loyal to the creation and development of crypto projects in the country and believes that their development will improve the economic situation in the country. In September 2021, the Tourism Authority of Thailand, in collaboration with local exchange Bitkub, announced plans to launch the TAT Coin token.
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