Thailand is reportedly preparing to amend its law on digital assets to tighten the oversight of the crypto sector and empower the Thai central bank to oversee the sector. “Right now, the central bank has no room to enter into the regulatory framework except for notifying that cryptos are not a legal means of payment for goods and services,” said the Thai finance minister.

Thailand is reportedly planning to amend its law on digital assets to tighten the oversight of the crypto sector, particularly trading platforms.

Thai Finance Minister Arkhom Termpittayapaisith explained that the planned amendments to the country’s crypto regulations will “bring the central bank to be part of it,” Bloomberg reported Tuesday. He added that the Thai Securities and Exchange Commission (SEC) has been asked to lead the regulatory overhaul. Under the current rules passed in 2018, the securities watchdog has the sole mandate to supervise the crypto industry.

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What do you think about thailand giving the green signals to central banks to oversee crypto sector i thinks its very good because crypto volatility is the reason behind this and this will benefit small investors as they cant afford to lose asset as they invested life savings in it .