The Thai SEC takes action against misleading crypto advertising

• The Thai SEC warns of misleading crypto advertising and calls for compliance with the regulations.
• also the global regulatory authorities of Great Britain and Spain are hard against misleading crypto advertising.
• The latest phishing incidents underline the need for increased vigilance in advertising supervision.

The Thai Stock Exchange Supervisory Authority SEC (Securities and Exchange Commission) has initiated measures to combat misleading advertising in the crypto area to protect investors from potential losses.

On April 29, the Thai SEC made a warning to all crypto exchanges working in the country and warned it of the glorification of cryptocurrency investments in its advertising. The deputy general secretary Anek Yoyuen emphasized how important it was to comply with the prescribed advertising standards to prevent the misleading of investors.

According to Yoyyuen, advertising in the cryptoscutor must not contain false, exaggerated, distorted or veiled information, since such practices violate the Thai regulations.

The step of the second follows that crypto exchanges tempt users with special privileges and may tempt them to overlook investment risks.

Protection of investor protection

The SEC emphasized how important it is to record corresponding warnings in crypto advertising for investment risks, and warned against using special advertising campaigns to obtain new users that often encourage individuals to participate in cryptocurrency transactions without fully taking into account the associated risks.

The blockchain investment company scam sniffer in his Current report also pointed out the weak point from an insufficient filtering Advertising platforms results. According to the report, the unfiltered ads users expose users phishing attempts by luring them to fake websites and asking them to link their crypto wallets, which enables fraudsters to withdraw money without permission.

The non -compliance with the advertising guidelines of the SEC can result in legal consequences because violations are punished by law.

The Thai advertising regulations oblige companies and advertisers to justify the facts set out in their marketing campaigns to ensure compliance with the law.

global efforts for cryptoregulation

The measures of Thailand reflect similar steps of the regulatory authorities in other important markets for digital assets such as the United Kingdom and Spain.

The United Kingdom's Financial Conduct Authority (FCA) published hundreds of warnings for illegal cryptocurrency advertising and thus showed a concerted effort to contain fraudulent practices in the industry.

Likewise, the Spanish National Börsenkommission condemned fraudulent advertising campaigns for crypto-assets in November 2023 and thus underlined the obligation of companies to comply with local laws.

Since the Thai SEC comes into the footsteps of other regulatory authorities in regulating the crypto industry, the cooperation between regulatory authorities and industry actors is of crucial importance in order to combat emerging threats and to ensure a safe environment for cryptocurrency investors.