Thailand launches crypto regulatory sandbox to ‘facilitate experiments’

Quick Take

  • Thailand’s Securities and Exchange Commission said the sandbox is now open for applications for participants including crypto exchanges, brokers, custodians and fund managers.
  • The sandbox intends to test crypto services in a “real-life context,” the regulator said.

Thailand’s securities watchdog has launched a sandbox for cryptocurrency businesses as the country continues to study the fine line between regulatory restrictions and crypto innovation.

On Friday, Thailand’s Securities and Exchange Commission said that the sandbox is designed to “facilitate experiments and the development of innovations supporting the efficient provision of digital asset services in the real-life context.”

The launch of the sandbox follows the SEC Board’s approval of establishing the crypto sandbox in March, with a subsequent public hearing in May.

Specifically, the SEC noted that the sandbox is intended for industry participants in six categories: digital asset exchanges, brokers, dealers, fund managers, advisors and custodial wallet providers.

The sandbox is now open for applications. The Thai regulator said it would review applicants’ qualifications based on their capital adequacy, work systems and management structures.

The Thai authorities made several crypto-positive moves earlier this year. For example, the Ministry of Finance reportedly extended its value-added tax exemption on cryptocurrency trading in February. In March, the Thai SEC adjusted relevant regulations to allow professional investors to invest in U.S. spot bitcoin exchange-traded funds.


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About Author

Timmy Shen is an Asia editor for The Block. Previously, he wrote about crypto and Web3 for Forkast.News from Taiwan after spending more than three years in Beijing covering finance, entertainment business and current affairs at Caixin Global and Chinese tech at TechNode. His China-related reporting has also appeared in The Guardian. When he's not chasing headlines, you'll find him savoring hot pot and shabu shabu in a Taipei local haunt. Timmy holds an MS degree from Columbia University Graduate School of Journalism. Send tips to [email protected] or get in touch on X/Telegram @timmyhmshen.

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