with non-complex features and investment units or debt securities with high risks or complexity, e.g., investment units of mutual funds for institutional investors or ultra-high net worth investors

competition and innovation and technology advancement. The 2015 plan comprises six strategic moves: (1) attaining high regulatory standards on par with internationally accepted standards; (2) enhancing

on non-complex capital market products as well as all types of high-risk or complex products. For example, investments units of mutual funds offered for sale to institutional investors or ultra-high

allowed to give advice to investors about capital market products with non-complex features and investment units or debt securities with high risks or complexity, e.g., investment units of mutual funds for

professionals, enticing investments in stocks and digital assets with seemingly low investment amounts and unrealistically high returns. The schemes claim that investing requires little to no knowledge and is

of management, work systems, particularly efficient technology systems, a system to review and assess customers’ suitability, which is very important as digital assets contain high risks. Once

“investing in digital assets comes with high risks. Those who are interested in investing must have knowledge and ability to take risks in investment losses. In a case of persuasion for investment, investors

Factor Bets Active Share Tracking Error0 Low High Low High Active share is a well recognized approach to measure how active the portfolio management. Active share can be used together with tracking error

(Bhatt, 2014) •Can be used to purchase goods or services •High security features •Decentralized finance •High potential and Second Life or Maybe equivalent to the social network Web 2.0 (Guadamuz and

Saengchote - Chulalongkorn Business School Table 1: cryptocurrency prices Daily data retrieved from CoinGecko data API. MANA and SAND are cryptocurrencies of Decentraland and The Sandbox respectively. High SD