The Securities and Exchange Commission of Thailand has announced plans to overhaul listing standards for cryptocurrencies on domestic platforms. This initiative aims to synchronize the growth of the crypto sector with regulatory guidelines, promoting innovation while ensuring robust investor safeguards.
Key Changes in Regulations
A key proposal includes allowing cryptocurrency exchanges to list altcoins originating from the platforms themselves or their affiliated entities. This could change the revenue structure and provide operational growth opportunities for exchanges while fostering innovation within the local crypto sector.
Push for Transparency
An important aspect of the new rules is the requirement for exchanges to publicly disclose the names of anyone associated with their listed altcoins. This measure will enhance monitoring capabilities and help prevent insider trading. Existing altcoins will have a 90-day period to comply following the enactment of these changes.
Strategies for Advancing Crypto Market in Thailand
Thailand has already implemented various strategies to support its cryptocurrency market, including a five-year tax exemption on profits from cryptocurrency sales. Additionally, the government plans to release approximately $150 million in investment crypto assets this summer, highlighting the country's readiness to integrate blockchain technologies.
Thailand's approach to regulating cryptocurrency reflects a balanced commitment to fostering innovation while aligning with rigorous regulatory frameworks. Through these proposed rules and supportive measures, the country aims to secure its position on the global cryptocurrency stage.
