Thailand’s Securities and Exchange Commission (SEC) has announced upcoming regulatory changes regarding the use of digital asset payments.
Starting September 6, restrictions on the use of digital assets as a means of payment will be eased and digital asset businesses under the supervision of the SEC will be able to participate in the Bank of Thailand program. Programmable payment sandbox.
These changes follow a public hearing held in July, during which the SEC collected comments on the proposed changes.
The majority of respondents supported the proposed changes.
The updated regulations expand the scope of services that digital asset businesses can provide without being considered a means of payment and include new types of operators such as digital asset custody wallet providers.
They also allow approved digital asset businesses to participate in the BOT sandbox, which promotes the development of digital financial innovations.
Additionally, the SEC has revised the list of approved cryptocurrencies that ICO issuers, ICO portals and digital asset trading operators can accept for transactions or as compensation in the sandbox, thereby facilitating experimentation and development in this space.
The SEC currently oversees six types of digital asset trading operators: digital asset exchanges, broker-dealers, dealers, fund managers, advisory service providers, and custody wallet providers.
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