Thailand’s SEC Proposes New Regulations to Boost Institutional Crypto Investments
10.10.2024 18:00 1 min. read Kosta Gushterov
Thailand's Securities and Exchange Commission (SEC) is proposing new regulations to allow mutual and private funds to invest in cryptocurrency products, addressing growing institutional interest.
The October 9 proposal permits these funds to invest in U.S.-listed crypto exchange-traded funds (ETFs) and introduces “investment tokens” similar to stocks and bonds.
Key aspects include a 15% allocation limit for retail mutual funds in crypto, while institutional and high-net-worth investors would face no caps.
The SEC will also revise criteria for managing crypto funds and plans to allow ICO portals to collaborate with third-party firms for fundraising.
To enhance market oversight, penalties for practices like naked short-selling will increase.
The SEC is also launching a Digital Asset Regulatory Sandbox for ten firms to test crypto-to-local currency exchanges, potentially paving the way for cryptocurrency payments, which are currently banned.
Despite regulatory challenges, retail crypto trading remains strong, with Bitkub, the largest exchange, reporting nearly $30 million in daily volume.
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