On August 9, 2024, the Thailand SEC launched its Digital Asset Regulatory Sandbox, aiming to drive innovation within the country’s Bitcoin and digital asset industries.
This initiative creates a controlled environment where firms can test new cryptocurrency services under a flexible regulatory framework.
The sandbox, approved earlier this year in March and refined after positive public feedback in May, will allow participants to trial services while ensuring they adhere to Thai regulatory standards.
Eligible companies include those involved in crypto exchanges, asset brokerage, virtual asset dealing, fund management, advisory services, and custodial wallets. To participate, companies must demonstrate strong financial stability, effective management structures, and secure operations, along with clearly defining their service scope to mitigate potential risks.
This new framework is expected to stimulate growth in Thailand’s digital asset market by attracting both local and international players, potentially boosting innovation and competition.
Binance TH, which recently began operations in Thailand, may join the sandbox, which could further enhance its service offerings and set a precedent for other major entities. The move aligns with a broader trend in Asia, where similar regulatory initiatives are being introduced to foster digital asset innovation.
Australian regulators are preparing new laws that will require crypto exchanges to secure a financial services license, according to reports from The Australian Financial Review (AFR).
The Capital Markets Board (CMB) has introduced a new set of regulations for the cryptocurrency sector, effective immediately following amendments to the Capital Markets Law No. 7518.
Anthony Scaramucci, founder of SkyBridge Capital, announced that Vice President Kamala Harris is working on her campaign’s cryptocurrency policies, with support from crypto advocates.
U.S. Congressman Warren Davidson has vocally criticized SEC Chair Gary Gensler, accusing the SEC of deliberately hindering Bitcoin ownership.