Gate News message: On April 8, the Thai Securities and Exchange Commission (Thai SEC) proposed bringing the funding providers behind the major shareholders of crypto-asset companies within the scope of regulatory approval. Regardless of whether they provide support directly or indirectly, they would be required to undergo regulatory review equivalent to that applied to the shareholders. The proposal is intended to curb the movement of hidden funds and prevent illegal capital from infiltrating crypto businesses. The same rules also apply to conduct that indirectly provides funding support through equity acquisitions. The Thai SEC said that “material funding support” includes guarantees, contractual arrangements, or any investment instruments that, in substance, place the funding provider in the position of an investor; if the major shareholder is a government-related entity, then only the shareholding at the entity level will be reviewed.
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