The Securities and Exchange Commission (SEC) of Thailand has announced plans to introduce a distributed ledger technology-based platform for virtual token trading.
Implementation of Distributed Ledger Technology
According to the Bangkok Post, Jomkwan Kongsakul, the deputy secretary-general of the SEC Thailand, stated that token investments are gaining traction, and regulators will permit trading in virtual tokens to leverage large investor bases. New laws are set to facilitate electronic securities issuance and online bond purchasing.
The Crypto Landscape in Thailand
Thailand's crypto market is evolving with a focus on institutional investments. Binance Thailand's CEO Nirun Fuwattanankul pointed out the upcoming launch of a Bitcoin payment sandbox in Phuket. In January, former Thai Prime Minister Thaksin Shinawatra indicated there are no risks in trading stablecoins and tokens backed by tangible assets.
Plans for Stablecoin Issuance
According to the Jinshi report, Thailand is considering issuing a stablecoin backed by government bonds. However, no official announcement has been made yet.
The implementation of new technologies in bond trading and the development of the crypto market represent significant steps for Thailand's financial sector, showcasing its commitment to innovation and digital integration.
