Thailand’s Securities and Exchange Commission has banned digital asset exchanges from trading meme- or fan-based tokens, non-fungible tokens and exchange-issued tokens.
The regulation, which is expected to affect tokens like Dogecoin as well as tokenised arts and collectibles, was enacted on Friday with immediate effect, although it’s not retroactive, according to a statement from the regulator.
Ruenvadee Suwanmongkol, the regulator’s secretary-general, said the exchanges are banned from trading utility tokens or cryptocurrencies that have one or any of the following characteristics:
Having no clear objectives or substance, and whose prices are dictated by social media trends or meme-based tokens.
Tokenised by the fame of influencers, or fan-based tokens.
A digital creation…
