Thailand: Implemented Thailand SEC Updated Rules on Criteria for Investments in Digital Tokens

On 16 January 2024, the updated Rules on Criteria for Investments in Digital Tokens adopted by the Thai Securities and Exchange Commission (SEC) entered into force. These updates aim to establish proper monitoring mechanisms for digital assets, protect investors, and promote the use of digital technology in national development. In particular, the updated Rules include changes like removing investment restrictions for retail investors in real estate or infrastructure-based digital tokens, promoting digital technology in fundraising, evaluating criteria for custody wallet and service providers for digital asset operators with significant shareholders. Furthermore, the Rules aim to ensure expertise and SEC compliance, mandating SEC approval for digital asset operators involved in other business activities to improve monitoring and to enhance service standards to prevent illegal operators and enhance the quality and reliability of the digital asset market.