{"id":8161,"date":"2021-06-12T11:55:27","date_gmt":"2021-06-12T11:55:27","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/thailand-bans-meme-coins-fan-tokens-nfts-from-trading-on-crypto-exchanges\/"},"modified":"2021-06-12T11:55:27","modified_gmt":"2021-06-12T11:55:27","slug":"thailand-bans-meme-coins-fan-tokens-nfts-from-trading-on-crypto-exchanges","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/thailand-bans-meme-coins-fan-tokens-nfts-from-trading-on-crypto-exchanges\/","title":{"rendered":"Thailand Bans Meme Coins, Fan Tokens, NFTs From Trading on Crypto Exchanges"},"content":{"rendered":"<p><strong>The Thai Securities and Exchange Commission (SEC) has enacted new rules for cryptocurrency exchanges operating in the country. Certain types of cryptocurrencies, including meme coins, fan coins, and non-fungible tokens (NFTs), are prohibited to trade on crypto exchanges.<\/strong><\/p>\n<h2>Thailand Sets New Rules for Crypto Exchanges, Banning Certain Types of Cryptocurrencies<\/h2>\n<p>The Thai Securities and Exchange Commission (SEC) announced Friday that its board of directors has approved new rules governing cryptocurrency exchanges. Secretary-General Ruenvadee Suwanmongkol stated that the board meeting held on June 9 had passed a resolution approving the SEC Notification No. Kor Thor. 18\/2564, which sets forth the rules.<\/p>\n<p>Digital asset exchanges are prohibited from \u201cproviding services related to utility tokens or cryptocurrencies that have any of the following characteristics,\u201d the SEC notice details:<\/p>\n<p>(1) Meme token: having no clear objective or substance or underlying, and whose price running on social media trends; (2) Fan token: tokenized by the fame of influencers; (3) Non-fungible token (NFT).<\/p>\n<p>The prohibition also includes \u201cDigital tokens which are utilized in a blockchain transaction and issued by digital asset exchanges or related persons.\u201d<\/p>\n<p>Although, the SEC did not mention the name of any specific coins, meme cryptocurrencies, like dogecoin (DOGE) and shiba inu coin (SHIB), are likely affected.<\/p>\n<p>Crypto exchanges must also set a requirement \u201cto be imposed in the event that digital tokens issued by their own exchange or related persons are listed on the exchange.\u201d Token issuers failing to comply with their white papers and relevant rules risk having their tokens delisted from the exchange, the regulator warned.<\/p>\n<p><!-- growjs zone placement 31 -->    <!-- end of growjs zone placement --> <\/p>\n<p>According to the SEC notice, \u201cThis new regulatory guideline aims to enhance protection of digital asset traders\u2019 interest.\u201d It adds:<\/p>\n<p>The exchanges are required to comply and revise their listing rules in accordance with the Notification within 30 days from the effective date thereof.<\/p>\n<p>The Thai SEC also noted that \u201cAfter publication in the Government Gazette, the Notification has become effective from 11 June 2021 onwards without retrospective effect.\u201d<\/p>\n<p><em><strong>What do you think about Thailand banning these cryptocurrencies from trading on crypto exchanges? Let us know in the comments section below.<\/strong><\/em><\/p>\n<p>Bitcoin News<br \/>\nRegulation, ban meme coings, ban meme tokens, Crypto regulation, Cryptocurrency regulation, dogecoins, meme cryptocurrencies, new cryptocurrency rules, thai, thai sec, thailand<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Thai Securities and Exchange Commission (SEC) has enacted new rules for cryptocurrency exchanges operating in the country. Certain types of cryptocurrencies, including meme coins, fan coins, and non-fungible tokens (NFTs), are prohibited to trade on crypto exchanges. Thailand Sets New Rules for Crypto Exchanges, Banning Certain Types of Cryptocurrencies The Thai Securities and Exchange&hellip;<\/p>\n","protected":false},"author":0,"featured_media":8162,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-8161","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8161"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=8161"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8161\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/8162"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=8161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=8161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=8161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}