Thailand SEC to expand crypto license reviews to include funding sources

Thailand's Securities and Exchange Commission (SEC) is pursuing a regulatory amendment that would extend its oversight to include not only the major shareholders of cryptocurrency businesses but also their ultimate financial backers, Cointelegraph reported. Under the proposed changes, any entity providing funds through direct investment, equity acquisition, guarantees, or other contracts would be considered a shareholder and subject to approval by the authorities. The SEC explained that the measure is intended to prevent illicit funds from entering the market and to lower legal risks for operators. An exception will be made for cases where a government-related agency is the major shareholder. The proposal is open for public comment until April 22.