Experts warn of cryptocurrency risksThe number of crypto traders in Thailand has risen to more than 1.1 million as of the end of July. Cryptocurrency trading value in Thailand spiked to 700-800 billion baht during the past 10 months and is expected to reach 1 trillion baht by the end of this year, according to Zipmex Thailand chief executive Akalarp Yimwilai at PostToday's Cryptocurrency Forum 2021 on Wednesday. The SEC has reportedly received a lot of complaints about digital asset trading scams and urged investors to carefully study the benefits and risks of the products. The regulator insists there are only 11 companies authorised to provide digital asset trading services in Thailand. "We encourage crypto traders to thoroughly check the credibility of a company and study the feasibility of cryptocurrency trading before opening a trading account," said Ms Jomkwan.

Source: Bangkok Post August 19, 2021 00:00 UTC