Thai SEC Proposes Regulatory Oversight for Crypto Enterprise Funders

The Thai Securities and Exchange Commission (Thai SEC) has proposed extending regulatory oversight to include the funders behind major shareholders of cryptocurrency enterprises. According to ChainCatcher, this proposal aims to ensure that both direct and indirect supporters of these enterprises undergo the same level of regulatory scrutiny as shareholders. The initiative seeks to curb hidden financial flows and prevent illegal funds from infiltrating crypto businesses. The rules would also apply to those providing financial support through equity acquisitions. The Thai SEC stated that 'significant financial support' includes guarantees, contractual arrangements, or any investment tools that effectively position the funder as an investor. If the primary shareholder is a government-related entity, only the entity-level shareholding will be reviewed.