Thai authorities concern warning on Trang temple’s cryptocurrency

ติดตั้งโซล่าเซลล์ใกล้ฉัน in Thailand are being warned not to spend money on Somdejcoin, or SDC, which is called after a revered Buddhist monk and developed by a temple in the southern province Trang.
Thailand’s Securities and Exchange Commission, or SEC, issued an official statement yesterday warning merchants and investors about the decentralised finance token, claiming that the coin’s investment information is still unclear in many ways.
The coin, created as a commemorative coin with a restricted quantity of sixty six,186,727 tokens, which is equal to the Thai population in 2020, by Wat Pa Mahayan in Trang and a basis, nonetheless needs to prove that it must match the qualifications earlier than buying and selling, based on the regulator.
The SEC is now planning to contact Satang Pro, a digital trade where SDC is listed, to see if the coin complies with the exchange’s itemizing requirements and not fall into certainly one of four categories of cash that aren’t allowed to record on any trade: meme tokens, fan tokens, non-fungible tokens, and any digital tokens issued by the exchanges.
Some features of the coin’s funding data, such as the profit redemption requirements and change fee, are currently unknown. Prior to trading, permission from the National Buddhism Office or other suitable regulators could additionally be needed, and the funds shall be divided three ways: to help Buddhism, to boost liquidity, and to add coins for investors with a 9% transaction cost.
Apparently, the web site has been suspended..

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