Key Takeaways
- The proposal allows licensed exchanges to list utility tokens that are either created by the exchanges themselves or by related parties, as long as these tokens have clearly defined functionality on a blockchain network
- SEC has also proposed mandatory disclosures about individuals and entities connected to the issuance of any listed digital token.
Thailand’s Securities and Exchange Commission (SEC) has initiated a public consultation on proposed amendments to the rules governing the listing of digital assets on licensed crypto exchanges. The consultation, which opened in June, will remain active until July 21, 2025. Interested parties are invited to submit their feedback through the SEC’s online portal, via email, or through legal representatives.
The proposed rule changes follow a decision by the SEC board last month that emphasized the need to update existing regulations in response to the rapidly evolving digital asset landscape. The new framework aims to strike a balance between supporting innovation and enhancing investor protection.
One of the key proposals would allow licensed exchanges to list utility tokens that are either created by the exchanges themselves or by related parties, as long as these tokens have clearly defined functionality on a blockchain network, such as paying transaction fees or accessing specific services. This provision is designed to enable platforms to develop user-focused blockchain services without compromising regulatory safeguards.
In an effort to increase transparency, the SEC has also proposed mandatory disclosures about individuals and entities connected to the issuance of any listed digital token. Exchanges would be required to identify and report on founders, team members, affiliated businesses, or any persons with inside knowledge. This move is aimed at reducing the risk of undisclosed conflicts of interest and helping investors make better-informed decisions.
The proposed regulation would also require trading platforms to incorporate alert icons and visual markers in the SEC’s electronic reporting system to highlight tokens with known internal affiliations. These indicators would support the SEC’s monitoring and enforcement efforts by helping detect suspicious trading patterns or potential insider activity. Exchanges listing such tokens before the new rules take effect would have a 90-day window to provide the necessary disclosures.
The consultation period comes at a time when Thailand is actively reshaping its approach to digital assets. In January 2025, the Thai government implemented a five-year capital gains tax exemption for crypto transactions on licensed platforms. Earlier this week, the country approved tax exemptions on income from the sale of crypto like Bitcoin for five years
The exemption, announced by Deputy Finance Minister Julapun Amornvivat, is part of a wider economic policy to position Thailand as a leading digital finance hub. The Finance Ministry is also evaluating the potential for launching Bitcoin exchange-traded funds (ETFs) for retail investors and developing blockchain-based payment systems for tourists in cities like Phuket.
