New Thai Regulations: Transforming Electronic Securities Trading

Digital Token Investments Surge as SEC Unveils New Thai Regulations

To enable securities firms to trade digital tokens, the Securities and Exchange Commission of Thailand intends to introduce a trading platform based on distributed ledger technology. In a February 3 Bangkok Post article, the deputy secretary-general of the Thai SEC stated that token investments were becoming more popular and that the regulator would permit securities firms to trade digital tokens in order to profit from their sizable investor bases.

The SEC is leveraging technology to enhance efficiency in the capital market by promoting an electronic securities ecosystem. New regulations will be launched to facilitate the issuance of electronic securities and online purchases of debentures, or medium-to-long-term debt instruments used by large companies to borrow money.

Jomkwan Kongsakul

DLT-Powered Bond Trading Coming Soon: Thai SEC Expands Digital Asset Plans

According to the report, the SEC‘s new DLT debt instrument trading system has approved four digital token projects, and two more that are centered on investment-based and green token initiatives are currently being reviewed. In addition to covering settlement, trading, investor registration, and payment procedures, the proposed system would fully digitize bond trading for both primary and secondary markets. It would also enable various chains with interoperability standards. However, it did not identify which chains would be included.

In the future, there may be multiple chains for trade. Trading through DLT on all systems is connected by a shared ledger, which is expected to be completed soon,

Kongsakul

Phuket to Host Thailand’s First Bitcoin Payment Pilot This Year

According to Nirun Fuwattananukul, CEO of Binance Thailand, the country’s cryptocurrency framework has been developing into a more institutional market focus for tokenized securities and crypto assets since October. The Thai central bank still prohibits using cryptocurrency for payments, but later this year, a Bitcoin payment sandbox is set to open on the popular island of Phuket. The pilot scheme will give international tourists another way to pay with cryptocurrency while giving regulators a sandbox setting in which to evaluate related risks.

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