This article comes fromDecrypt, original author: Scott Chipolina
Odaily Translator | Nian Yin Si Tang
Summary:
This article comes from
, original author: Scott Chipolina
Odaily Translator | Nian Yin Si Tang
Summary:to report- The Thai Securities and Exchange Commission is considering regulating DeFi.
- DeFi observers have different views on regulation, some believe it will help the industry, others believe that regulation and DeFi cannot coexist.
Thailand’s Securities and Exchange Commission (SEC) has stated that DeFi projects may require a license to operate legally in Thailand.
“The issuance of digital tokens must be authorized and supervised by the Securities and Exchange Commission of Thailand, and issuers must disclose information and provide cryptocurrencies through the token portal portal authorized by the Digital Asset Decree.” Bangkok Post citing the SEC
to report
say.In fact, DeFi regulatory issues have attracted the attention of many regulatory agencies.Gensler said in prepared testimony to the House Appropriations Committee that the cryptocurrency space presents various risks to investors in the market and challenges for securities regulators. He pointed to market volatility and novel products as some examples of these problems.
"Crypto lending platforms and so-called decentralized finance ('DeFi') platforms present several challenges for investors and the SEC staff trying to protect them," Gensler said.
British authorities have also mentioned the issue of DeFi regulation. At the end of February this year, the Ministry of Finance of the country
ordered
A review of UK fintech calls for the introduction of a new regulatory regime for crypto assets. Regulatory regimes for crypto-assets should adopt a functional and technology-neutral approach based on the principles of the current regulatory framework and the concept of "same risk, same regulation", while being adjusted to the risks arising from activities related to crypto-assets. It should also be flexible enough to meet future challenges — such as how DeFi should be regulated. The review also calls for the UK to continue to participate in the Global Financial Innovation Network, a group of national regulators, and to take a leadership role in crypto policy and regulation. The report also said governments should keep "reviewing" initiatives in other international markets lest they fall behind.
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Some people are happy and some are sad
The news has divided the crypto community.
Some welcome the prospect of regulation as a legitimate factor for the growth of DeFi, while others see DeFi and regulation as antithetical.
Niran Pravithana, co-founder and CEO of fintech startup Ava Advisor, added that the SEC’s announcement was justified given the number of fraudulent tokens he’s seen in circulation.
“These criminals can hide in Telegram and manipulate token prices, and these illegal activities are difficult to detect,” he explained.
Others, however, don't think so.
Charles Storry, head of growth at Phuture, told Decrypt that the SEC’s attempts to regulate DeFi have hurt Thailand’s crypto community.
“Thailand’s SEC has hurt the small Thai crypto community by making such a statement, showing their lack of understanding of this permissionless technology. Regulators should encourage these new businesses,” said Storry.
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