Talk Forum - SEC fears cryptocurrency trading by inexperienced traders

[Thaiger]

The Securities and Exchange Commission in Thailand is worried about crypto investor ignorance as cryptocurrency trading volume in Thailand surged to 700 to 800 billion baht over the past 10 months. The chief executive of Zipmex Thailand predicted trading will hit 1 trillion baht by the end of 2021. At the PostToday Cryptocurrency Forum 2021 yesterday the Zipmex executive said that more than 1.1 million people are now trading crypto in Thailand. The SEC worries that crypto trading has now moved beyond more experienced or knowledgable investors and gotten more mass appeal, attracting amateur investors more prone to pitfalls and […]

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[Miblish]

This statement comes from a government that sells lottery tickets to the poor with a 40% payout. Considering the current state of the Thai baht, borrowing a lot of it to buy something else seems wise.

BTW, both the article and your Facebook heading is misleading.  A UK study showed that "up to" (what does that even mean in statistics?) 45% of "youth" (in the UK) borrowed money.  It's not a reference to Thailand.

[Che]

Haha! Like professional traders were never responsible of any major financial crisis in the past.

[Zool]

There must be a bull market coming, usually is when governments try to discourage the poor from investing.

[Objectivance]

[BainaiThai]

My mantra...NEVER INVEST MONEY IN HIGH RISK VENTURES (ie crypto and forex) THAT YOU CANNOT AFORD TO LOSE....I have never been disappointed.

[Buttaxe]

I'm a former day-trader, i made a killing, i even taught it - in Japan in the late 90s. Whenever a government says it is concerned about the little people over day-trading, it means only one thing - they want to tax or crush it, and keep the game for the parasites at the top. The liberal tyranny known as the EU did this by compulsory stop loss orders, the US did it by outright banning day-trading for anyone with less than 50k. In the late 90s it was about as free-trade as it gets in the West, it was fantastic, now they crushed it. Thai elite looking to do the same. 

[Paco]

Let people do what they want, always trying to control everything, just say plain simple we not getting income from this....

[DiJoDavO]

In other words, don't even come close to where the rich make their money. Imagine the pain of sharing anything if you're rich. 

[Paco]

15 hours ago, DiJoDavO said:

In other words, don't even come close to where the rich make their money. Imagine the pain of sharing anything if you're rich. 

Very correct

[AlexPTY]

i think  SEC should focus on insider trading and social media posts before selling shares. it's not their business to worry about armatures losing their money

[King Cotton]

6 minutes ago, AlexPTY said:

i think  SEC should focus on insider trading and social media posts before selling shares. it's not their business to worry about armatures losing their money

If you ask me nicely, I'll fix the 'armatures' typo . . . it is quite funny though, unless you do have a passion for electric motors!