Thailand’s Securities and Exchange Commission (SEC) is seeking public feedback on significant revisions to digital asset listing rules for licensed cryptocurrency exchanges, aiming for increased transparency and broader listing allowances. The proposed changes are part of the country’s ongoing efforts to become a leading digital asset hub while bolstering regulatory oversight.
The public consultation, open until July 21, invites opinions on new criteria for digital assets offered on crypto exchanges. These revisions, approved by the SEC board in June, would permit licensed exchanges to list utility tokens or cryptocurrencies they or their related parties issue for blockchain transactions.
A key aspect of the new rules includes stricter disclosure requirements. Exchanges would be mandated to reveal the identities of individuals associated with digital token issuers on their platforms. This measure, coupled with new alert symbols in the SEC’s e-reporting system, aims to monitor and prevent insider trading. For tokens already listed, issuers must disclose related persons within 90 days of the new rules’ effective date.
These developments align with Thailand’s broader strategy to establish a transparent and traceable digital asset trading environment. The move follows the government’s recent five-year exemption on capital gains tax for crypto transactions conducted through licensed platforms, effective from January 1, 2024, to December 31, 2029.
Furthermore, Thailand’s Revenue Department is implementing the OECD’s Crypto-Asset Reporting Framework, an international system for exchanging digital asset information.
The push for enhanced regulation also comes on the heels of Thailand’s recent crackdown on unlicensed global crypto exchanges. Starting June 28, the SEC, in coordination with the Ministry of Digital Economy and Society, will block access to five major platforms – Bybit, 1000X, CoinEx, OKX, and XT.COM – for operating without proper licenses in Thailand.