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Bangkok Post
Bangkok Post
Business

SEC to supervise digital asset custodians

SEC Securities and Exchange Commission
Representations of cryptocurrencies are seen in this illustration taken on Aug 10, 2022. (Reuters photo)

The Securities and Exchange Commission (SEC) has added digital asset custodian as a business under its supervision to standardise preservation of digital assets and increase investor protection.

The move is in response to the Finance Ministry's announcement that came into effect on July 13, describing a digital asset custodian as keeping digital assets in custody, as well as management services of encryption of cryptographic keys or related services that are required to be confidential for approval of any transfers or transactions related to the digital assets, with full or partial authorisation.

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