Thailand's SEC Proposes New Rules for Digital Asset Listings

The Securities and Exchange Commission (SEC) of Thailand has opened a public consultation on proposed new rules for digital asset listings on exchanges. The consultation period will run until July 21, 2025, allowing stakeholders to provide feedback on the proposed changes. The SEC aims to align these regulations with the evolving digital asset industry while maintaining investor protections.

The proposed rules would permit exchanges to list self-issued tokens or cryptocurrencies, which are digital assets created and managed by the exchange itself or related parties. These tokens are designed for blockchain transactions and are intended to be "ready-to-use." The SEC's goal is to promote innovation and usage within Thailand's digital asset ecosystem, ensuring that the listed assets are consistent with industry developments.

Under the proposed framework, exchanges must disclose the names of persons related to digital token issuers and display warning symbols in reporting systems. This measure is aimed at helping the SEC monitor and prevent insider trading, market manipulation, and unfair practices. The regulator emphasizes the importance of maintaining regulatory mechanisms to prevent conflicts of interest and ensure fair market practices.

For tokens already listed before the new rules take effect, issuers will have 90 days to provide related-party disclosures to exchanges. This provision ensures that existing listings comply with the enhanced transparency requirements, promoting a level playing field for all market participants.

The consultation marks another step in Thailand's strategy to position itself as a regional financial center and capture international crypto businesses. The country recently eliminated capital gains taxes on crypto sales for five years, projecting economic benefits of no less than 1,000 million baht over the medium term. Deputy Finance Minister Julapun Amornvivat highlighted that this tax exemption is part of the government's ambition to establish Thailand as one of the world's financial hubs.

Thailand is also exploring pilot programs for crypto tourism payments in Phuket and considering allowing spot Bitcoin ETFs for retail investors. These initiatives, along with the proposed listing rules, demonstrate Thailand's commitment to fostering a vibrant and innovative digital asset market. The SEC's proactive approach to regulation reflects its dedication to balancing innovation with investor protection, ensuring that Thailand remains at the forefront of the global crypto landscape.