The Securities and Exchange Commission (SEC) of Thailand is transitioning towards more crypto-friendly regulations with the publication of an updated framework earlier this month.
The Securities and Exchange Commission (SEC) of Thailand is transitioning towards more crypto-friendly regulations with the publication of an updated framework earlier this month. This framework aims to foster the growth of the digital asset market while ensuring investor protection.
The SEC regulates cryptocurrencies under the Digital Asset Businesses Decree, focusing on areas such as sales, trading, and initial coin offerings (ICOs). Digital asset businesses operating in Thailand must obtain licenses and comply with the rules set forth by the SEC.
The updated framework introduces several key changes, including the removal of retail investors' limits for tokens backed by assets like real estate or infrastructure. Previously, retail investors were limited to 300,000 baht (approximately $8,400) per offering in asset-backed ICOs. This change is expected to widen the market for a broader range of investors and support the nation's digital asset market development.
The SEC update also requires dedicated entities to be set up for custodial wallet management. These providers must be subsidiaries of publicly listed companies with a track record in secure custody of securities. This measure aims to enhance the security of digital assets held by exchanges and custodians.
Despite these progressive steps, the SEC has decided not to allow spot Bitcoin exchange-traded funds (ETFs) in Thailand. This approach is similar to South Korea's, which has also prohibited spot Bitcoin ETFs in its domestic markets. The United States recently approved 10 spot Bitcoin ETFs in a historic milestone on January 10.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators.
This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.
The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
