Key Takeaways:
- Spot Bitcoin ETFs Review: Thailand’s SEC is considering the approval of spot Bitcoin ETFs for retail and institutional trading, signaling potential growth in the country’s crypto market.
- Stablecoin Proposals: The SEC is assessing corporate bond-backed and government bond-backed stablecoins to expand investment opportunities and modernize the debt market.
- Crypto-Friendly Initiatives: Proposals include a Bitcoin sandbox in Phuket to integrate crypto into tourism, showcasing Thailand’s increasing focus on blockchain innovation.
Thailand’s Securities and Exchange Commission (SEC) is considering allowing spot Bitcoin exchange-traded funds (ETFs) on local exchanges, marking a significant step for the nation’s cryptocurrency landscape.
SEC Secretary-General Pornanong Budsaratragoon emphasized the need to adapt to global cryptocurrency trends while prioritizing investor protection and offering expanded options.
Thailand may permit Bitcoin exchange-traded funds to list on local exchanges for the first time as the country vies to nurture a digital-assets hub https://t.co/QGGXnXKeBU
— Bloomberg Crypto (@crypto) January 15, 2025
While Thailand’s One Asset Management has launched a fund providing exposure to international spot Bitcoin ETFs, direct listings of such ETFs remain prohibited domestically.
In addition, the SEC is evaluating proposals for stablecoins backed by corporate bonds, which would enable firms with strong credit ratings to issue such assets and broaden investor access to the debt market.
Thaksin Shinawatra, a prominent political leader, has also proposed government bond-backed stablecoins for retail and institutional investors.
Furthermore, he suggested developing a Bitcoin sandbox in Phuket to promote crypto-driven tourism.
Thailand currently ranks 16th globally in crypto adoption, according to Chainalysis, excelling particularly in retail and centralized cryptocurrency engagement.
The country is 15th in retail centralized service value and 19th in decentralized finance transaction volume.
These developments underscore Thailand’s efforts to balance innovation and regulatory oversight, fostering growth while ensuring investor security.
About The Author
Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
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