Thailand’s Securities and Exchange Commission (SEC) has officially launched a regulatory sandbox aimed at advancing the cryptocurrency industry within the country. This initiative, announced on Friday, is designed to provide a controlled environment for testing and developing digital asset services in a real-world context.
The sandbox is now open for applications, inviting participation from a wide range of industry players, including digital asset exchanges, brokers, dealers, fund managers, advisors, and custodial wallet providers. By facilitating these experiments, the SEC hopes to strike a balance between regulatory oversight and the promotion of innovation in the fast-evolving crypto sector.
This move follows the SEC Board’s decision in March to establish the sandbox, followed by a public consultation in May. The regulator will evaluate applicants based on their capital adequacy, operational systems, and management structures to ensure they are well-equipped to operate within the sandbox.
Thailand has been increasingly proactive in its approach to cryptocurrency regulation. Earlier this year, the Ministry of Finance extended a value-added tax exemption on cryptocurrency trading, and the SEC adjusted its rules to allow professional investors to invest in U.S. spot bitcoin exchange-traded funds.
This sandbox initiative is the latest in a series of crypto-positive steps taken by Thai authorities as they work to support the growth and innovation of the digital asset ecosystem.
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Source : Theblock
