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SEC warns DeFi transactions may enter digital token sales network

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SEC Unveils DeFi (Decentralized Finance) Blockchain Used for Transactions May enter the digital token offering network and DeFi projects in Thailand must obtain a license and comply with certain rules.

The Securities and Exchange Commission (SEC) disclosed that with the rapidly evolving technology. Blockchain is used for various transactions. One of them that is becoming popular is DeFi (Decentralized Finance), a blockchain-based decentralized financial service that does not rely on intermediaries. By using smart contract execution mechanism, more and more examples of DeFi projects are now seen, which may include activities covering lending & borrowing, crypto trading, and digital asset exchange. (decentralized exchange), asset management, as well as issuing digital tokens such as LP token, governance token or various tokens to DeFi transactions.

According to the Digital Asset Business Emergency Decree, B.E. 2561 (2018), issuing digital tokens must be authorized by the Securities and Exchange Commission (SEC). As required And offered for sale through a digital token offering system service provider approved by the SEC. Digital broker, dealer, private fund management, and investment advisor must obtain a license from the Minister of Finance. And must comply with the rules, procedures and conditions for conducting business under the permitted type

Therefore, if the activities that occur in the DeFi project in Thailand are issued digital tokens to the users May be considered a licensed digital token offering And if the nature or service model falls into any of the above types of digital asset business, it must obtain a license and comply with the specified rules. In addition, in the case that the operator of the digital asset trading center conducts the digital token issued for sale to be registered in the trading center. In addition, other activities such as lending, prizes or sweepstakes must be complied with. May be required to comply with applicable laws and regulations.

Any business operator and anyone dealing with such DeFi should consider before proceeding whether the DeFi transaction that will serve the digital token issuance network. And whether the digital asset business has to be licensed or not? If violated, it is an unauthorized issuance of digital token or the operation of digital asset business, punishable by the Digital Assets Act. Including studying and following other laws Related with

For traders, it is advisable to study the DeFi project before getting involved in both technical and security aspects. Including various terms, conditions and functionality Written on the system The risks involved And should check whether the service provider is a licensed digital asset business operator under the supervision of the SEC or another regulatory body.

The list of entrepreneurs under the supervision of the SEC can be checked from the SEC Check First application or the SEC website www.sec.or.th titled Digital Assets. And ask for information or report clues at the public service center, SEC, tel.1207


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