Thailand's Securities and Exchange Commission (SEC) has announced that decentralized finance (DeFi) projects may be required to get licenses. The news came shortly after the launch of Tuktuk Finance, a DeFi yield farming platform, on Sunday. TUK token prices soared to "several hundred dollars" before plummeting to roughly $1. The SEC emphasized that before issuing any tokens, DeFi project operators should examine existing restrictions, and retail consumers should research all technical and security elements of protocols.