Thailand SEC Proposes Crypto Listing Rule Changes to Boost Innovation

The Thailand Securities and Exchange Commission (SEC) has launched a public consultation to gather input on proposed changes to its crypto listing rules. The primary goal of these revisions is to foster innovation within the digital asset sector while maintaining robust investor protections. The new rules, if implemented, could grant crypto exchanges greater flexibility, particularly in the listing of utility tokens.

The proposed changes are designed to keep pace with the rapid growth of the crypto industry in Thailand. Under the draft rules, crypto exchanges operating in the country, such as Kucoin, may be permitted to list utility tokens issued by themselves or through affiliated companies. This represents a shift from previous restrictions and could provide platforms with additional avenues to offer digital assets that serve specific functions.

Another significant change involves stricter disclosure requirements. Exchanges would be obligated to reveal the identities of individuals associated with each listed token and incorporate warning alerts into their systems. This measure aims to enhance the SEC's ability to monitor for insider trading and ensure greater transparency. If the rules are approved, platforms would have 90 days to provide this information for tokens already on the market.

The SEC has opened the public consultation process, accepting comments until July 21. This period allows market participants, developers, and investors to share their views on the proposed changes, ensuring a comprehensive review of the new regulations.

This initiative is part of Thailand's broader strategy to promote the growth of its digital asset market. Recently, the Thai government approved a five-year tax break for individuals earning income from selling cryptocurrencies. This move is intended to stimulate the economy and support local entrepreneurs. Additionally, Thailand is preparing to launch approximately $150 million worth of digital investment tokens later this year, designed to offer higher returns compared to traditional bank deposits.

The SEC is also exploring the possibility of listing Thai-based Bitcoin exchange-traded funds (ETFs) on local exchanges. This could simplify the process for regular Thai investors to participate in the crypto market. Deputy Finance Minister Julapun Amornvivat has expressed the government's ambition to establish Thailand as a global hub for digital assets.

The consultation period provides an opportunity for stakeholders to voice their opinions and contribute to the development of a regulatory framework that supports the growth of the digital asset industry while mitigating risks. The SEC's efforts to revise the crypto listing rules are part of a broader initiative to enhance transparency and support blockchain innovation, ensuring that investor protections remain a top priority.