Thailand’s Securities and Exchange Commission (SEC) is taking significant steps towards embracing the digital future with more crypto-friendly regulations. A recently released updated framework highlights the SEC’s progressive stance on cryptocurrencies.
Thailand’s SEC regulates cryptocurrencies under the Digital Asset Business Ordinance, focusing on areas such as sales, trading and initial coin offerings (ICOs).
In a significant change, Thailand’s SEC’s updated framework removes the investment limit for retail investors in digital tokens backed by real estate or infrastructure. Previously, retail investors were limited to 300,000 baht (about $8,400) per offering in asset-backed ICOs.
The SEC update also mandates the establishment of specialized entities for custody wallet management. However, these providers must be affiliates of publicly traded companies with a proven track record in secure securities storage.
The new regulations require greater involvement of Thailand’s SEC in monitoring the expansion of businesses in the digital asset sector. Under the new regulations, companies that want to expand must first obtain approval from the SEC and ensure that their expansion plans comply with regulatory standards.
*This is not investment advice.
For exclusive news, analysis and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price monitoring now by downloading our applications!