Thailand’s Securities and Alternate Fee (SEC) has reiterated that digital asset exchanges will not be allowed to record meme tokens, citing a scarcity of elementary worth and excessive threat of value manipulation.
This transfer is aimed toward sustaining order in digital asset buying and selling and safeguarding traders from doubtlessly unfair practices.
Meme tokens, which frequently lack clear aims or utility and are closely influenced by social media traits, are seen as unstable investments.
The SEC’s directive is according to the prevailing laws set forth within the 10 June 2021, notification concerning the principles for digital asset companies.
Whereas the laws limit exchanges from providing meme tokens, digital asset brokers are permitted to supply meme token providers underneath strict situations.
They have to function solely as brokers or brokers and be sure that purchasers obtain the absolute best phrases from numerous exchanges to which they’ve connections.
The SEC warns that brokers who additionally maintain alternate licenses should not mislead the general public into believing that meme token orders are processed on the alternate platform.
As a substitute, these orders needs to be routed to different sourced exchanges of their dealer capability solely. The fee additionally emphasises that influencers and buying and selling companions should adjust to these tips.
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