Thailand’s Securities and Exchange Commission (SEC) has unveiled a new regulatory sandbox aimed at facilitating the development and testing of innovative crypto-related services. This initiative marks a significant step in the country’s effort to establish a more efficient and forward-thinking crypto market.
In a recent announcement on its website, the SEC invited interested parties to participate in the Digital Asset Regulatory Sandbox, designed to test and promote cutting-edge services within the cryptocurrency space. The sandbox is open to a range of participants, including exchanges, brokers, dealers, fund managers, advisers, and custodial wallet providers.
Following hearings held in March, the SEC has outlined the qualifications required for participation and detailed the types of services eligible for the sandbox trials. The new regulatory framework aims to provide a controlled environment where participants can develop and refine their offerings while adhering to regulatory standards.
This move is part of Thailand’s broader strategy to enhance its position as a crypto-friendly hub. Earlier this year, the SEC approved the launch of private funds for US spot Bitcoin ETFs, targeting institutional and high-net-worth investors. Additionally, in February, the country removed significant tax burdens on crypto traders, further solidifying its ambition to become a leading player in the Asian digital assets market.
The SEC emphasized that applicants for the sandbox will be evaluated based on their qualifications, including capital adequacy, operational systems, management structure, and operational conditions. This evaluation process aims to ensure that participants are adequately prepared and that risks are minimized.
The introduction of the regulatory sandbox represents Thailand’s ongoing commitment to fostering innovation in the digital asset space while maintaining a structured and secure regulatory environment.
