Thailand bans Dogecoin and NFTs: "No clear objective or substance"

Thailand is the latest country to impose heavy restrictions on cryptocurrency. In this case, Thailand's Securities and Exchange Commission (SEC) have banned Dogecoin and other meme coins and also NFTs. From Engadget:

According to the Thai SEC, the new rules are aimed at protecting traders from tokens that have "no clear objective or substance" and whose prices are swayed by social media trends and influencers. 

In addition, the Thai SEC announced it's also banning exchange tokens, reports Decrypt. These are the proprietary coins issued by crypto exchanges that can be used to trade and pay fees. 

The latest crackdown is part of Thailand's push for regulatory reform of the crypto market.