23 Sep, 22
Welcome back to Strait Up, our weekly newsletter that makes sense of what’s going on in Southeast Asia.
Globally, cryptocurrency investors have lost billions of dollars since May. And now, the crisis has reached Thailand. Rules say crypto exchanges cannot use customer funds, but Zipmex seems to have done just that. The regulator has stepped in, but perhaps there were things that could have been done sooner.
In Indonesia, the country’s financial regulator OJK has got new leadership, and we’re already starting to see the impact. Peer-to-peer lending has got some new rules. But is the OJK leaning towards over-regulation with this one?
We also have some strange things happening in the Philippines, where the plastics industry and environmental groups are actually in agreement about something.
Ready? Let’s dive in.
Lead Image credit: Coernl/Pixabay