They are only doing their job to protect investors as well as the citizen who may be attracted to these cryptos with less knowledge because they are tempted to see or read news about the huge profits made during the crazy price increase of meme coins.
When laws to protect their citizens from criminal activities with crypto currency are vague, they need to do prevention for their citizens. I see they have good aims for their restrictions. They do this for their governmental and law system and for their citizens and preventive restrictions bring mutual benefits for many sides: governments, governmental staffs, systems, and citizens.
It's understandable, as we all know that there are a lot of crypto hypes like Meme coins and then NFT's. They just wanted to protect their people, so there local SEC needs to come forward and take actions about it.
It's obvious that this craze has taken the world by storm, and the Thai government, although I would say crypto friendly, will have to draw the line here. No Thai's are going to be the next victim here.
When crypto market has big hypes, governments after a few months of silent observations and considerations, will take law actions and I have been in crypto long enough to see this is a natural and positive actions and adaptation from governments.
In nations where cryptocurrency tradings, exchanges are not protected, citizens have to accept risks if they have trades with criminals. Laws will protect them and it is what they want to have. I don't see how they will be panic when there are more laws to protect them.
