Thai SEC floats allowing crypto products in mutual, private funds
Thailand’s Securities and Exchange Commission is proposing to allow mutual and private funds to invest in crypto products, addressing growing interest from institutional investors.
An Oct. 9 proposal from the finance regulator said that funds should be allowed to invest more in crypto exchange-traded funds ( ETFs ) traded and listed on United States stock exchanges.
The proposal would allow securities companies and asset management firms to offer crypto-related products to large investors.
“Investment tokens” will be included with the same investment ratios as transferable securities such as stocks and bonds “because they have similar characteristics and risks,” said SEC deputy secretary-general Anek Yooyuen told the Bangkok Post.
“Relevant criteria will be revised to support the establishment and management of funds investing in digital assets,” he added.
Highlighted and translated excerpt of the SEC’s proposal. Source: SEC
However, there will be different rules proposed for various types of digital assets with high-risk assets like Bitcoin ( BTC ) being treated differently from stablecoins.
There would also be restrictions with retail mutual funds limited to a 15% allocation in crypto investments, while institutional and high-net-worth investors would have no cap on exposure.
The SEC will also revise the criteria for managing funds investing in crypto assets, including asset custody, value calculation, information disclosure, and advertising.
It also plans to authorize initial coin offering (ICO) portals which will be allowed to use outsourced companies for token fundraising or designing investment projects.
However, the regulator plans to hike the fines for “naked short-selling,” firms sending inappropriate trading orders, and market manipulation. Earlier this year, the SEC blocked unlicensed crypto exchanges from operating in the country.
Related: Kasikornbank launches first licensed Thai digital asset custodian
The SEC is also preparing a Digital Asset Regulatory Sandbox, which would involve ten private firms conducting trial projects for exchanging crypto assets for local currency.
This could open the doors for crypto payments in the country, a practice currently outlawed by Thailand’s central bank. The SEC needs to discuss and seek approval from the Bank of Thailand regarding using crypto as a means of payment.
Retail crypto trading in Thailand remains popular, with its largest crypto exchange, Bitkub , seeing almost $30 million in daily volume, according to CoinGecko.
Magazine: Anti-aging tycoon Bryan Johnson almost devoted his life to crypto
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Investors Pick Troller Cat from the Best Meme Coins to Buy Today with Hours Left for Stage 7 – Book of Meme and ANDY Cool Off
The Troller Cat presale is gaining momentum, with over $150K raised and a 3541% ROI projection, while BOOK OF MEME and ANDY prices struggle.Troller Cat Is Gaining Ground as the Top Presale in a Crowded Meme Coin MarketBOOK OF MEME Price Drops 12.80 Percent as Momentum SlowsANDY Falls Nearly 10 Percent as Early Momentum CoolsConclusion

3 Top Presale Crypto Projects That Let You Earn Instantly Through Referrals
Explore top presale crypto projects offering instant rewards. BlockDAG gives 25% referrals, while Unstaked and Web3 ai offer 10% each. Start earning today.Unstaked: AI Tools and 10% Referral IncomeWeb3 ai: Early Pricing and 10% Referral BenefitReferral Rewards Are Driving Real Earnings

Ethereum Rebound Likely if Price Holds $2,550
Ethereum eyes $2,650 as TD Sequential hints at a bullish rebound if $2,550 support holds strong.Potential Bounce Ahead for EthereumTechnical Indicators Support a Move to $2,650Why This Level Matters for Traders

Bitcoin Retail Panic After Buying Near ATH Levels
On-chain data shows retail investors panic after buying Bitcoin near all-time highs and seeing a slight market correction.Retail Investors Buy Late, Panic EarlyA 6% Dip Sparks Panic SellingLessons from On-Chain Data

Trending news
MoreCrypto prices
More








