The Thai Securities and Exchange Commission (SEC) regulates cryptocurrencies by law Digital Assets Companies Decree, Focusing on areas such as sales, trading and initial coin offerings (ICOs). Digital asset companies operating in Thailand are required to obtain licenses and comply with the rules established by the Securities and Exchange Commission (SEC) as outlined in this decree. He said.
The SEC's updated framework removes retail investor limits for asset-backed tokens, creates new rules for custodians and gives the agency a greater role in monitoring digital asset businesses.
The removal of the investment limit for retail investors this month in cryptocurrencies backed by real estate or infrastructure represents a major shift. Previous rules had capped retail investors at 300,000 baht (about $8,400) per bid in asset-backed ICOs.
This change is expected to expand the market to a wider range of investors and support the development of the digital assets market in the country.
The SEC modernization also requires the creation of dedicated custodial portfolio management entities. However, these providers must be subsidiaries of publicly listed companies with a proven track record in secure storage of securities.
The new regulations call for greater SEC involvement in monitoring business expansion in the digital assets sector. Companies looking to grow must first obtain approval from the Securities and Exchange Commission, ensuring their expansion plans comply with regulatory standards.
According to the Bangkok Post newspaper, the Securities and Exchange Commission of Thailand has chosen to disallow Bitcoin exchange-traded funds (ETFs). This approach is similar to that of South Korea, which also decided not to allow such ETFs in its domestic markets. An official at the South Korean Financial Services Commission said Local media “The government has consistently maintained the principle of preventing financial institutions from investing in virtual assets in order to stabilize the financial market and protect investors.”
This cautious approach comes after the market was significantly affected by the failure of Do Kwon's Luna and TerraUSD digital currencies in Korea.
Binance Thailand mid-January launch It may also boost the growth of cryptocurrencies in Thailand. Binance TH facilitates digital asset exchanges with Thai Baht trading pairs, cooperates with local banks and collaborates with Binance Kazakh on brokerage services, all under the supervision of the Securities and Exchange Commission of Thailand.
