Thailand’s SEC to Launch Cryptocurrency Course for Beginner Investors

SEC Secretary General of Thailand Ruenwadi Suwanmongkol said the regulator will offer a free training course for investors with no experience in cryptocurrency trading.

In a Facebook Live video from the Thai Securities and Exchange Commission (SEC), Secretary General Ruenvadee Suwanmongkol said that, according to the regulator’s instructions now being drafted, those interested in investing in digital assets must have experience in cryptocurrency trading. She added that newcomers to the market should take a cryptocurrency trading training course or take a test to validate their knowledge.

Suwanmongkol noted that the Commission is organizing a free training course called Crypto 101 for investors with no experience in cryptocurrency trading. However, the assessment of a trader’s ability will not be based on income or financial position, but on how he manages investment portfolios.

In February, Thailand’s SEC said it could introduce qualification requirements for new cryptocurrency investors. The Thai Securities and Exchange Commission then withdrew the draft proposal due to public backlash. According to the withdrawn project, local cryptocurrency investors must have a net worth of at least THB 10 million ($ 332,500), and the annual income of such investors should be at least THB 1 million ($ 33,250).

At the time, Suwanmongkol said that the project was intended to assess public opinion and that the regulator would hold a hearing on the matter. Judging by the latest information, instead of financial restrictions, the regulator decided to start educating potential investors. It is not yet clear whether the course will be compulsory and what penalties may follow in case of refusal to take it.

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