Thailand’s Securities and Exchange Commission (SEC) has announced the prohibition of certain digital assets, preventing them from being traded on digital asset exchanges in Thailand. In principle, the SEC allows digital asset exchanges to set out their own criteria and processes for selecting and accepting the types of digital assets which they trade, and the Notification of the Securities and Exchange Commission No. Kor Thor. 18/2564 Re: Rules, Conditions and Procedures for Undertaking Digital Asset Businesses (No. 11), which took effect immediately upon its publication in the Government Gazette on June 11, 2021, is the first SEC regulation to restrict certain kinds of digital assets.
The regulation restricts digital asset exchanges from accepting any of the following digital tokens or cryptocurrencies:
The notification further prescribes that digital asset exchanges must set requirements for the trade of digital tokens issued by the exchange or related persons on the platform which it operates. Digital token issuers must comply with requirements in the white paper and relevant rules or the digital token may be delisted from the exchange. Digital asset exchanges must revise their listing rules and conditions by July 10, 2021.
The new notification will apply to all digital assets to be accepted for trading on an exchange from the effective date of the notification onward. Cryptocurrencies and digital tokens already accepted for trading on an exchange prior to that date will not be affected by the notification.
For more information on this notification, or on any aspect of digital assets and cryptocurrency in Thailand, please contact Kobkit Thienpreecha at [email protected] or +66 2056 5534, or Nopparat Lalitkomon at [email protected] or +66 2056 5646.