Thailand’s SEC Unveils Comprehensive Digital Asset Regulatory Policy

The Securities and Exchange Commission (SEC) of Thailand has unveiled its overall digital asset regulatory policy, covering all aspects of the digital asset market. This policy will oversee the issuance and offering of digital tokens in the first market and the supervision of digital asset business operators in the secondary market.

Additionally, it will ensure adequate investor protection mechanisms are in place while supporting the development of innovation and technology to benefit the growth of the capital market and the digital economy sustainably.

The new policy is in line with the four considerations of international capital market regulators, which reflect the situation in the global digital asset industry. These considerations include the supervision of conflicts of interest, storage and separation of customer property, prevention of unfair acts, and international cooperation. This policy focuses on supporting the digital economy, innovation, and the use of technology in fundraising while maintaining proper investor protection.

At its recent meeting, the SEC board approved a review of the rules for custodial wallet providers to be more flexible and suitable. This review will allow service providers, who are listed companies and subsidiaries in the group with experience in custody of customer assets, to provide services to digital asset business operators.

The SEC also agreed to review the rules for fundraising through investment token digital offerings to be in line with the risk level of the product. They will also review the credibility criteria of digital asset business operators and require them to seek approval from the SEC for other business operations to more efficiently monitor digital asset business operations.

Moreover, the SEC has given a policy to allow securities business operators to provide digital token services for investment and digital tokens for utilization that are not available. However, in the event that a securities business operator wishes to provide services related to cryptocurrency and utility tokens, it must be a separate legal entity for the service.

While cryptocurrencies and utility tokens are high-risk, the SEC is taking steps to ensure that the investment by mutual funds for retail investors is more in line with the risks. The SEC is studying this information in more detail to reduce the risk that may affect customer assets and securities businesses.

Overall, the new digital asset regulatory policy from the SEC of Thailand aims to create a more complete digital asset ecosystem while protecting investors and supporting the development of innovation and technology in fundraising. The SEC is committed to listening to opinions from relevant parties and ensuring that investors and businesses are protected by the laws of Thailand.

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