Thailand: Regulation on investment token services entered into force

On 21 July 2025, the Regulation allowing securities companies to provide investment token services under the Securities and Exchange Act issued by the Securities and Exchange Commission entered into force. The Regulation applies to securities firms offering digital fundraising tokens, which resemble traditional securities and operate in both primary and secondary markets. These services are exempt from being classified as digital asset brokerage, dealing, or advisory activities, and therefore do not require separate digital asset licences. Instead, securities companies must comply with existing regulatory requirements under the Securities Act, including robust risk management and operational readiness.