The Thailand Securities and Exchange Commission has issued a public warning to exercise caution around activities that may amount to operating digital asset businesses without a licence, following indications that some individuals are providing trading and exchange services outside licensed digital asset exchanges. It noted that unlicensed digital asset business activity may violate the law and be punishable by imprisonment and fines. The SEC highlighted that potentially in-scope activities include operating digital asset trading or exchange services, acting as a digital asset broker, dealer or agent, and providing digital asset investment advisory services in the ordinary course of business. It cautioned that using unlicensed operators may leave users without legal protections and expose them to fraud or scams, and that such channels could also be used for money laundering; investors were directed to verify providers using the SEC’s lists of licensed and approved operators and the Investor Alert list of unlicensed operators, and to report suspicious activity via SEC complaint channels.

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