Thailand’s SEC to Eradicate Any Stumbling Blocks to Digital Asset Advancement
Asian nations are gearing towards incorporating digital assets into their economies as the world gets ready for the fourth industrial revolution or 4IR touted to be transformative. For instance, it is speculated that China is setting a precedent in blockchain adoption.
Thailand is also not wasting any time because it intends to open up the digital asset sector by amending the present regulations.
According to the Bangkok Post, the Securities and Exchange Commission (SEC) in Thailand has revealed plans to revise the royal decree on digital asset businesses in 2020 to boost digital assets’ growth, as well as shield investors from avoidable risks.
The secretary-general of the SEC, Ruenvadee Suwanmongkol, acknowledged that it would scrutinize whether the royal decree has any stumbling blocks to digital asset businesses.
She acknowledged: “Laws should not be outdated and should serve market needs, especially for new digital asset products, and be competitive with the global market. We need to explore any possible obstacles.”
The royal decree was effected in May 2018, and it listed four secondary business intermediaries, namely brokerage firms, dealers, crypto exchanges, and token portal service providers or ICO portals.
As specified by the SEC, the royal decree caters for digital tokens, cryptocurrencies, and any other electronic data unit.
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