Thai SEC Seeks Public Feedback on Token Issuance Rules
The Thai Securities and Exchange Commission (SEC) has opened a consultation period for public feedback on proposed rules governing utility token issuance. This initiative aims to enhance transparency in crypto regulation and prevent insider trading within Thailand’s expanding digital asset market.
Key Features of the Proposed Rules
- Exchanges must disclose the identities of individuals associated with token issuers.
- The rules are designed to improve oversight and curb insider trading.
- This forms part of Thailand’s broader strategy to regulate its crypto industry.
Thailand’s Evolving Crypto Regulatory Framework
Recent regulatory measures include permitting tourists to use cryptocurrencies for payments and restricting operations of unlicensed exchanges such as OKX and Bybit. Additionally, Thailand has exempted capital gains tax for crypto transactions conducted through licensed service providers.
Addressing Insider Trading in the Global Crypto Market
Incidents like the case involving OpenSea employee Nate Chastain highlight the critical need for stringent crypto market oversight. Thailand’s own challenges were underscored by a 2022 scandal involving the chief technology officer of Bitkub, one of the country’s largest exchanges.
