• About Us
  • Careers
  • Contact
No Result
View All Result
Saturday, July 26, 2025
DeFi Planet
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result
Home News Latest News

Thai SEC Issues New Regulations for Cryptocurrency Custody Providers

17 January 2023
in Latest News, News
Reading Time: 3 mins read
108 1
Thai SEC Issues New Regulations for Cryptocurrency Custody Providers

image source: regtechafrica.com

The Securities and Exchange Commission (SEC) of Thailand has introduced new regulations for cryptocurrency custody services in an effort to better protect investors. 

The Thai SEC published regulations on January 17 requiring virtual asset service providers (VASP) to set up a digital wallet management system to ensure effective custody. The new regulations are directed at VASPs, or crypto custodians, who offer services for crypto storage.

The new regulations, published on January 17, require virtual asset service providers (VASPs) to set up a digital wallet management system to ensure effective custody.

Three essential needs are listed in the regulations, including the implementation of a policy and set of rules for regulating how digital wallets and private keys are managed in terms of risk. The regulations mandate that VASPs share information on such policies with authorities and present action plans to guarantee compliance.

The SEC also asked cryptocurrency custodians to provide policies and processes for creating, developing, and administering digital wallets and keys and have a backup plan in case of unexpected events that may compromise the wallet management system.

The SEC stated:

“Contingency plan in case of occurrence of any event that may affect the management system of digital wallets and keys. This includes laying out and testing action procedures, designating responsible persons and reporting the event.”

The SEC also stated that in the event of any incident affecting the security of systems associated with the custody of digital assets, which could have a major impact on clients’ assets, a system security audit and digital forensic inquiry would be necessary.

The new regulations became effective on January 16, 2023, and crypto custodians have six months to comply fully. 

The Thai SEC started an investigation into Zipmex earlier this month to determine if the firm’s revenue-generating products had broken any laws. Local law enforcement authorities are also investigating any violations of the terms of service for digital asset providers.

The Thai SEC is making concerted efforts to assure compliance throughout the nation’s financial industry and protect investors from fraud or misconduct.

 

If you would like to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, and Instagram.

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

Don't miss out!

Subscribe To Our Newsletter

Receive top education news, lesson ideas, teaching tips and more!
Invalid email address
Give it a try. You can unsubscribe at any time.
Thanks for subscribing!
Share64Tweet40Share11
Favour Udeo

Favour Udeo

Favour is a writer, who is interested in blockchain, DeFi, and Web3 in general. She finds machine learning and emerging technologies interesting.

Related Posts

source: azfamily.com
Crime

Arizona Influencer Jailed for Aiding North Korean IT Workers in Massive Remote Job Fraud

25 July 2025
source: thenew.money
Ethereum

BitMine Overtakes Rivals with $2 Billion Ether Buying Spree

25 July 2025
source: mashable.com
Crypto

Bybit Partners with Crypto Tax Calculator to Streamline Global Crypto Tax Compliance

25 July 2025
source: claudiasanchezrealestate.com
Business

Christie’s Real Estate Launches Crypto Division to Meet Surging Demand for Property Purchases with Digital Assets

25 July 2025

Featured Posts

What is a Crypto Order Book and How Does it Work?

What is a Crypto Order Book and How Does it Work?

byOlayinka Sodiq
14 July 2025
0

Elon Musk's xAI Colossus: What It Is and Why It’s a Big Deal?

Elon Musk’s xAI Colossus: What It Is and Why It’s a Big Deal?

byOlayinka Sodiqand1 others
12 July 2025
0

Is AI the Future of Crypto Trading or a Threat to Market Stability?

Is AI the Future of Crypto Trading or a Threat to Market Stability?

byOlajumoke Oyaleke
7 July 2025
0

What Are DeFi Options Vaults, and How Do They Work?

What Are DeFi Options Vaults, and How Do They Work?

byOlajumoke Oyaleke
26 June 2025
0

source: investorplace.com

How to Find the Newest Cryptocurrencies Before They’re Listed

byOlayinka Sodiq
30 December 2024
0

Read More

Chain of Thoughts

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

byOlu Omoyele
30 June 2025
0

...

Are Stablecoins Bank Deposits?

Are Stablecoins Bank Deposits?

byOlu Omoyele
31 May 2025
0

...

DAOs and the Coordination of Human Endeavour

DAOs and The Coordination of Human Endeavour

byOlu Omoyele
27 April 2025
0

...

Should DeFi Be Regulated?

Should DeFi Be Regulated?

byOlu Omoyele
27 March 2025
0

...

Markets Update

Your Weekend Crypto Roundup | July 2025 (Week 3)

1 week ago

Account Abstraction Adoption: Are Users Ready for Smart Wallets?

1 week ago

The Role of Real-World Assets (RWAs) in the Next DeFi Boom

2 weeks ago

Stablecoins in 2025: Still Depegging or Finally Stable?

2 weeks ago

Your Weekend Crypto Roundup | July 2025 (Week 2)

2 weeks ago

The Battle for Web3 Infrastructure: Which Platforms are Dominating in Decentralized Storage, Compute, and Identity?

3 weeks ago
Read More

Events

Rare Evo 2025
Rare Evo 2025
6 Aug 25
Las Vegas
CBDC Conference
CBDC Conference
9 Sep 25
Nassau

Spotlight

All about Ethereum
All about Algorand
All about Bitcoin
All about Gora

Press Releases

Pepeto Announces $5.5M Presale and Demo Trading Platform

bychainwire
25 July 2025
0

$75K in Rewards Announced for Valhalla’s First-Ever Tournament

bychainwire
25 July 2025
0

Bybit and Tether Launch Strategic Partnership to Accelerate Crypto Adoption in Brazil

bychainwire
25 July 2025
0

Remittix Presale Raises $17M After Revealing Next-Gen Web3 Wallet Beta Launch Date

bychainwire
25 July 2025
0

BioSig Technologies and Streamex: Pioneering Real-World Asset Tokenization in the U.S. Market

bychainwire
25 July 2025
0

Read More

ADVERTISING

ABOUT

TEAM

CAREERS

CONTACT

TERMS & CONDITIONS

PRIVACY POLICY

© Copyright 2025 DeFi Planet

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.

Add New Playlist

No Result
View All Result
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer

© Copyright 2024 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00