Thailand’s Securities and Exchange Commission (SEC) is asking for public feedback on possible changes to its rules for people who invest in crypto token sales.
According to an announcement by the SEC, anyone investing in initial coin offerings (ICOs) through a licensed portal must take a knowledge test every three months.
This rule applies to most investors except those who fall into the ultra-wealthy category.
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The idea behind the test is to ensure that people understand how ICOs work and the risks they may face, such as price fluctuations or technical issues.
However, the SEC stated that asking people to take the same test four times a year may not be helpful. If someone has already passed the test, the new proposal would let them skip it in the future.
Additionally, the SEC aims to hold ICO portals more accountable for verifying whether an individual is prepared to invest. These platforms would need to run a full check on each investor’s financial situation, risk tolerance, and overall understanding of what they are buying.
This check would have to be updated at least once every two years, instead of every three months like it is now.
The SEC said this plan is meant to lower the workload for both investors and ICO platforms. It would also bring crypto-related rules more in line with how traditional investments, such as stocks and bonds, are managed.
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