Thai SEC Warns DeFi Transactions Could Be Subject to Applicable Licensing Law
The agency is signaling it may move to regulate the country's DeFi sector.
The central bank stressed that cryptocurrencies are not legal tender in Thailand.
The SEC alleges the crypto exchange is operating a digital-asset business in the country without a license.
"I think traditional financial companies like us should actively explore, invest and adopt DeFi," said SCB 10X's Mukaya Tai Panich.
The move by the Thai SEC is just the latest action by the regulator as it works to provide a framework for crypto in the nation.
The hiring of a large international technology provider signals the bank is on schedule for launching its digital currency.