The Securities and Exchange Commission (SEC) of Thailand is preparing new rules to allow local spot crypto-based exchange-traded funds (ETFs) and to expand the possible lineup beyond bitcoin (BTC).
Thai second to widen ETF lineup with new rules
On Wednesday, Thailand’s SEC General Secretary, Pornonong Budsartragoon revealed that the regulatory agency is working to expand its crypto ETF plans beyond bitcoin and include other digital assets in the coming months.
In an interview with Bloomberg, the regulator stated that SEC and other agencies were drafting new rules to offer local mutual funds and institutions to offer digital asset-based ETFs for the first time, drafting new rules, expecting rollouts in early 2026.
It is worth noting that Thai investors can currently receive these products by investing in the funds managed by licensed asset management companies that invest in foreign crypto ETFs.
In June 2024, SEC of Thailand approved an asset management officially to launch a fund-to-fund bitcoin ETF, which allows institutional investors to come into contact with BTC-based investment products listed abroad.
In January, the General Secretary unveiled that the regulatory agency was evaluating the list of local spot bitcoin ETFs to strengthen the country’s digital assets market, which confirms the intention of the regulator to allow both individuals and institutions to invest locally listed in bitcoin ETFs.
“We have to ensure this and ensure that our investors have more options in crypto assets with proper security,” he explained at that time. The new rules will go beyond the current limits and expand the potential ETF lineup for a broad basket of crypto assets.
Pornonong told Bloomberg, “Now we have the possibility to broaden the criteria for crypto’s baskets such as crypto.” “We want to widely supply those crypto assets in ETFs.”
Thailand Crypto Hub continues efforts
The General Secretary highlighted the will of investors to diversify his portfolio and adopt digital assets as part of his investment strategies, especially among young people, given that the main function of the agency is the “convenience” demanding under the legal structure.
Thai regulators are intensifying their efforts to become a regional crypto hub, the report states that token products have been developed many policies aimed at making mainstream investment options.
Earlier this year, the SEC introduced a crypto sandbox in tourist areas to increase the country’s appeal as a technical-loving destination, along with the Bank of Thailand (BOT), promoted innovation, and used digital assets to promote the economy and tourism industry.
As reported by bitcoinist, the touristidagipay Sandbox launched in August aims to facilitate the conversion of digital assets in Thai BHTT for the purposes of foreign visitors, allowing botcoin and digital assets to be allowed as methods of paying in tourist areas for adoption.
In addition, the regulatory agency has proposed a change of rules to provide a crypto exchange with investor protection and flexibility, enhancing the oversight, allowing digital asset platforms to list their utility tokens or tokens issued by the affiliated institutions affiliated.
Meanwhile, Thailand’s Deputy Finance Minister, Julpun Amornvivat shared a plan to leave the capital gains on digital assets for five years. The minister announced that, investors selling their assets through licensed crypto service providers, from January 1, 2025 to 31 December, 2029, would not have to pay taxes on profits.
Bitcoin (BTC) trades at $118,897 in the one-week chart. Source: BTCUSDT on TradingView
Specially displayed image from Unsplash.com, chart from traoodingview.com
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