The Securities and Exchange Commission (SEC) of Thailand has opened the duration of consultation for feedback on rules that will allow exchanges or individuals to release utility tokens, According For a Friday statement.
Under the proposed rules, the exchanges must disclose the name of anyone associated with tokeers, which will aid the SEC to monitor the signals of insider trading. The scheme is part of Thailand’s efforts to establish a regulatory structure for the Crypto industry.
https://www.youtube.com/watch?v=wjs2kxhdexg?
In May, the country planned to allow tourists to spend crypto through credit cards, a few days before blocking the crypto exchanges a few days before blocking the unlicensed operations and money laundering in the country. A month later, it announced a discount on capital gains tax on crypto sales made through licensed crypto service providers.
Thailand was home to a crypto insider trading scandal in 2022. In August of that year, SEC alleged that Bitkab’s Chief Technology Officer, one of the largest exchanges in the country, used internal information to buy some tokens before a major deal.
Connected: Kookin spreads with SEC-infinite exchange in Thailand
Insider trading in crypto
Insider trading is the task of purchasing or selling security based on private, non -report. This practice is considered illegal in many courts, but accurate rules depend on the regulation body, such as the respective securities and exchange commission of the country.
There are many examples of alleged insider trading in the Crypto market industry.
In 2021, Opensea Employees Nat Chastain was accused of using insider knowledge to buy NFT which were to be painted on the opena homepage soon. Wire fraud and money laundering and chastein were convicted in 2023 was sentenced For three months in jail.
In 2022, there were three coinbase employees Was accused With insider trading. There were two of them was sentenced To jail.
Recently, Benance suspended an employee in March after examining the alleged insider trading. There were also internal trading charges around US President Donald Trump’s official Trump (Trump) after an Analytics firm analyzed the unusual behavior of whale wallet.
magazine: Trump’s crypto venture enhances conflict of interests, Insider Trading Questions
