Thailand: Closed consultation on SEC amendments to advertising guidelines related to risk warnings for investments in digital tokens

On 16 October 2024, the Securities and Exchange Commission (SEC) closes its public consultation on the proposed revisions to advertising guidelines for digital token offering service providers (ICO portals) and issuers (ICO issuers). In particular, the revisions aim to improve the clarity and consistency of risk warnings in advertisements for digital tokens, ensuring that investors are better informed of the risks before investing. Furthermore, the proposed amendments will standardise how risk warnings are presented, requiring them to be prominently displayed with contrasting colours or bold fonts and in a text size at least as large as the main advertisement text. For advertisements with audio and visual components, the risk warning must also be read aloud at a normal pace to ensure clarity. Furthermore, the guidelines also specify that warnings must be in the same language as the advertisement, and set out the content of warnings in Thai and English. Moreover, social media ads must include warnings in captions or accompanying texts, following the same standards for visibility and prominence.