Thailand SEC solicits opinions on the draft rules for digital asset derivative brand licenses

According to an announcement released by the Securities and Exchange Commission (SEC) of Thailand on October 29, the agency has publicly solicited opinions on a series of draft notifications to amend the licensing framework for derivative businesses, covering derivative exchanges, derivative clearinghouses, and intermediary businesses, to support the inclusion of digital assets in the scope of underlying assets recognized by the Derivatives Act. According to the proposal, digital asset operators can apply for a derivative business license without establishing a new company.

According to MediaNama, the proposed digital asset derivative license will allow for activities such as derivative agency, proprietary trading, investment consulting, and investment management, with a license fee of 500,000 Thai Baht. Existing digital asset exchanges, brokers, and dealers can be exempt from application fees and license fees. Among digital asset operators, only exchanges and brokers can apply to operate derivative exchanges, while digital asset custodians are not allowed to apply for clearinghouse licenses. The deadline for public consultation is November 28, and the Thai SEC has solicited opinions on related principles from April to May of this year.