The Securities and Exchange Commission of Thailand (SEC) expands the cryptocurrency registration mechanism.
The SEC of Thailand has initiated a public consultation process on the proposal to amend the digital asset listing regulations, expanding the ability of licensed centralized exchanges (CEX) to issue and list utility tokens issued by themselves or their affiliated organizations. This measure aims to promote a more sustainable cryptocurrency ecosystem in the Southeast Asian nation.
The total estimated consultation time is expected to end on July 21, customers can send feedback via the SEC website, the central legal platform, or email. This process reflects the commitment of the Thai government to enhance the legal framework of the cryptocurrency sector.
Amend listing standards and transparency of information.
According to a press release issued after the SEC executive board meeting in June, the regulator plans to expand listing capabilities for digital assets while increasing transparency requirements for exchanges.
A prominent proposal is to allow larger SEC-licensed cryptocurrency exchanges to list utility tokens used in the blockchain ecosystem for transaction fees or platform governance, avoiding purely speculative capital.
In this framework, exchanges are also required to disclose the identities of individuals related to listed tokens to enhance transparency and avoid conflicts of interest. Tokens issued by the exchange or their partners must also disclose this information within 90 days from the effective date of the regulation.
In addition, exchanges must establish a warning system so that the SEC can monitor illegal internal transactions in real-time, protecting investor interests and maintaining market integrity.
Thailand aims to become a global cryptocurrency hub.
The Thai government is actively promoting the country to become a global cryptocurrency hub with preferential tax policies and new regulatory adjustments to attract investors and promote technological innovation in Blockchain.
On June 16, Thailand announced a five-year tax exemption on profits from crypto transactions for licensed exchanges. The policy is effective from January 1 and is expected to end on December 31, 2029, facilitating a stronger market development.
Deputy Finance Minister Julapun Amornvivat emphasized the government's commitment: “The Thai government is accelerating the process of turning the country into a global digital currency hub.”
Besides tax policy, the Thai Revenue Department is currently coordinating the implementation of the OECD Digital Asset Reporting Framework to enhance the effectiveness of controls and anti-money laundering through crypto trading activities.
In this context, regulators have started tightening the activities of unlicensed service providers. On June 28, the SEC will block access to five international crypto platforms including Bybit, 1000X, CoinEx, OKX, and XT.COM, due to operating without valid licenses or providing unauthorized services in Thailand.
In the list of legally allowed exchanges, KuCoin has become the officially licensed platform in Thailand under the supervision of the SEC, and has recently launched “KuCoin Thailand”, a fully licensed cryptocurrency exchange.
Meanwhile, the SEC of Thailand is considering approving domestic Bitcoin ETFs, aiming to compete with international markets and position Thailand as a global digital financial center.
Source: https://tintucbitcoin.com/sec-thai-lan-xem-xet-phat-hanh-coin-nen-tang/
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