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Thailand’s SEC has initiated a public consultation on proposed changes to digital asset listing rules for licensed cryptocurrency exchanges. These changes aim to enhance transparency, tighten disclosure requirements, and broaden listing allowances for certain types of tokens. The consultation period will remain open until July 21, allowing stakeholders to provide their feedback through official channels.

Proposed Changes to Digital Asset Listing Rules

As part of its ongoing efforts to refine the regulatory framework, the Securities and Exchange Commission of Thailand approved a plan in June to update the criteria for listing digital assets on crypto exchanges. Under the proposed guidelines, licensed exchanges will be permitted to list utility tokens or cryptocurrencies issued by their own entities or related parties. However, these tokens must serve a specific utility in blockchain transactions.

Moreover, the new rules mandate that exchanges disclose the identities of individuals or entities associated with the issuers of digital tokens listed on their platforms. This measure aims to improve transparency and reduce risks such as insider trading. To further bolster monitoring efforts, exchanges will be required to apply alert symbols in the SEC’s e-reporting system to flag potential irregularities.

Compliance Requirements for Existing Tokens

For tokens that were already listed prior to the implementation of the new rules, the exchanges must ensure that issuers disclose all related persons within 90 days of the effective date. This retroactive compliance measure emphasizes the SEC’s commitment to maintaining a transparent and trustworthy crypto trading environment in Thailand.

Thailand’s Ambition to Become a Digital Asset Hub

The proposed updates are part of Thailand’s larger strategy to position itself as a global digital asset hub. By ensuring transparent and traceable digital asset trading within a regulated framework, the country aims to attract investors while protecting consumers.

In line with this goal, the Thai government recently introduced a five-year exemption on capital gains tax for cryptocurrency transactions conducted through licensed platforms. This tax incentive, effective from January 1, 2024, to December 31, 2029, is expected to stimulate growth in the local crypto market.

Global Reporting Framework Integration

Thailand’s Revenue Department is also working on implementing the OECD’s Crypto-Asset Reporting Framework. This system facilitates the automatic exchange of digital asset information with other countries, ensuring compliance with international standards.

Enforcement Actions Against Unlicensed Exchanges

In addition to regulatory updates, Thailand has taken enforcement actions against unlicensed global crypto exchanges. Starting June 28, the SEC, in collaboration with the Ministry of Digital Economy and Society, began blocking access to five major platforms — Bybit, 1000X, CoinEx, OKX, and XT.COM. These exchanges were found to be operating without the necessary licenses and offering trading services to Thai users without authorization.

These enforcement measures underscore Thailand’s commitment to fostering a compliant and secure environment for cryptocurrency trading. By regulating both local and international players, the country aims to build a robust digital asset ecosystem that supports innovation while safeguarding investor interests.

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