BANGKOK – The Ministry of Finance has ordered the Securities and Exchange Commission (SEC) to promote confidence in the country’s capital markets, while giving the general public a better understanding of Bitcoin investments which are considered high risk.
At a seminar on the SEC’s strategy, the Minister of Finance Arkhom Termpittayapaisith, directed the SEC to implement innovations and technology to provide new investment tools, while at the same time taking care of novice investors who may not be accustomed to investments in high risk digital assets, such as Bitcoin.
Investments in Bitcoin have gained more momentum recently among investors of lower means who want a high returning. The Minister of Finance said these investors should be well informed in order to control their risk.
Mr Arkhom urged the SEC to provide easier access to the capital market for people with savings, investors, and startup entrepreneurs, promote confidence in the capital markets as well as their potential, promote sustainable financial development where the society and the environment are taken into consideration, and provide extra facilitation to companies affected by the COVID-19 pandemic.
The Minister of Finance said the Thai economy this year will continue to face challenges from the pandemic, but the availability of vaccines is a real hope; meanwhile the government has rolled out relief campaigns, such as payout campaigns and tourism subsidies.
He said however these relief campaigns can only be offered short-term, and must be offered along with aid measures for business owners through financial and monetary policies.
Mr Arkhom said the government is promoting the Bio-Circular-Green (BCG) economic model along with investments in infrastructure in the future, to support the growing aging society, where the population of senior citizens is expected to double from 12% to 24% over the next 10 years. (NNT)