Thailand's Securities and Exchange Commission has banned cryptocurrency staking and lending services after numerous providers halted withdrawals this year. By oknightcrypto.
The decision to ban"depository services", which includes paying returns to depositors, was made to protect traders from the risks associated with crypto lenders, the release said.
Several crypto lenders including Celsius Network and Babel Finance, as well as exchanges offering lending services, froze withdrawals over the past few months following a downturn in the crypto market, with bitcoin and ethereum losing over 50% of their since the turn of the year.is Zipmex, which has entities in Singapore, Thailand, Australia and Indonesia.
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