On October 24, the Deputy Spokesperson of the Office of the Prime Minister of Thailand, Ratchada Thanadirek, said on Saturday that Thai Prime Minister Prayuth Chan-ocha expressed concerns about cryptocurrency investors, especially young investors.
The Prime Minister stated that he understands that investors expect substantial returns from the crypto market in the short term, and they flock to invest in cryptocurrencies. The Prime Minister urged investors to consider the risks of investing in this asset class. He pointed out that cryptocurrencies have no supporting fundamentals, they are highly speculative and volatile.
Most importantly, investors should not be fooled by hype and must choose a service provider licensed by the country’s Securities and Exchange Commission (SEC). He also asked parents to be cautious when opening trading accounts for their children, emphasizing that minors’ investments must be closely monitored.