The Securities and Exchange Commission (SEC) of Thailand has initiated a public consultation on proposed rules regarding utility tokens issued by exchanges and affiliated individuals. This action is aimed at enhancing oversight and investigating potential market manipulation.
Discussion on New Token Rules
Crypto exchanges will be required to provide information on individuals associated with the company issuing tokens. This measure is intended to assist the SEC in monitoring and investigating potential insider trading, which poses a serious issue for the international digital asset market.
Tax Breaks for Crypto Investors
The Thai Cabinet has approved a five-year exemption from capital gains taxes on cryptocurrency transactions, effective from January 1, 2025, to December 31, 2029. The main goal of this decision is to attract crypto firms and investors from other nations, such as Singapore and Dubai.
Regulatory Measures Against Insider Trading
The recent regulatory push also targets the prevention of cases of insider trading. In 2022, Thailand experienced a scandal involving insider trading allegations against one of the country's largest crypto exchanges. The SEC emphasizes the importance of discussing how to structure the issuance of utility tokens to combat illegal practices.
Thailand's ongoing regulatory steps in the crypto sector aim to enhance market confidence and reinforce the country's position as an international financial hub.
