Thailand seeks public input on proposed rules allowing crypto exchanges to list their own tokens

Thailand's Securities and Exchange Commission (SEC) has initiated a public consultation process to revise the criteria governing the listing of crypto assets on local exchanges.

The commission wrote in its Friday press release that the move was made to "align with the evolving context" of the local crypto industry, and promote innovative and useful crypto offerings alongside investor protection measures.

One of the revisions under review would allow exchanges to offer their own utility tokens or those from affiliated entities. Another requires trading platforms to disclose the names of individuals connected to listed tokens.

The latter would also enforce exchanges to display alerts in their reporting systems to help the SEC monitor any signs of insider trading. Existing tokens must disclose the names within 90 days if the revision becomes effective, the release added.

The commission stated that it will accept comments until July 21.

Making strides

Meanwhile, the Southeast Asian country has been making bold moves, steering the local crypto industry forward. 

Earlier this week, Thailand approved a five-year tax exemption on income from cryptocurrency sales to boost the country's economic potential and provide more opportunities for local entrepreneurs.

"Full speed ahead! The Thai government is accelerating efforts to position Thailand as a global digital asset hub," Deputy Finance Minister Julapun Amornvivat said at the time.

The country is also planning to issue around $150 million worth of digital investment tokens in the summer, which would offer investors a higher return compared to that from regular bank deposits.

In January, the Securities and Exchange Commission announced that it was considering allowing locally issued bitcoin ETFs to be listed on Thai exchanges amid rising global competition.