Thailand’s SEC is about to let investors trade crypto ETFs like it’s 2008 and we all forgot how to panic.
Regulators are now playing “let’s make digital asset rules” while pretending they know what they’re doing. New auditor requirements? Of course, because nothing says “trust us” like more auditors.
Thailand’s Crypto ETF “Framework”: Because Why Not? 🤷♂️
The SEC is drafting rules to let mutual funds sell ETFs for cryptos beyond Bitcoin. Because why stop at one when you can have a “basket” of digital assets-like a lottery ticket that’s also a math problem?
“We might allow a basket of cryptos,” said SEC secretary-general Pornanong Budsaratragoon, probably while sipping a green tea and Googling “how to sound serious.”
Thai investors currently buy cryptos directly or through overseas ETFs. Now they’ll get domestic options. Because nothing says “diversified portfolio” like trusting robots to not crash your savings. The Stock Exchange of Thailand is down 7.6% this year, so congrats to everyone who still has a portfolio-assuming they didn’t liquidate it for groceries.
Officials claim this is about making crypto mainstream. Meanwhile, younger investors are just trying to avoid losing money to NFT ponzi schemes. Classic.
SEC’s “Stronger Oversight”: Just Add More Rules 🚨
In a bold move, the SEC is pushing for powers to suspend crypto transactions if things go sideways. Because nothing says “investor confidence” like letting regulators freeze your account on a whim.
Currently, enforcement relies on police who probably don’t know what an ETF is. New legislation would let the SEC investigate insider trading. Because nothing’s more reassuring than trusting bureaucrats to catch crooks who hide money in blockchain riddles.
Starting in 2025, crypto firms must use SEC-approved auditors. Because if one layer of bureaucracy isn’t enough, let’s add three more. The goal? To make sure your money is safe… as long as the auditors aren’t on vacation.
Together, these moves scream: “We’re expanding crypto access, but don’t worry-we’ll just pile on rules until it’s unrecognizable.”
Binance and Kasikornbank are now in Thailand, probably to cash in on the chaos. And former PM Thaksin Shinawatra? Still shouting about crypto like it’s the 2000s and he’s the next Elon Musk. 🚀
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2025-10-02 14:37