Thailand's SEC Seeks Public Comment on Draft Rules for Digital Asset Derivatives Licenses

November 3: According to an announcement published by the Securities and Exchange Commission (SEC) of Thailand on October 29, the regulator has opened public consultation on a series of draft notifications amending the derivatives business licensing framework, covering derivatives exchanges, derivatives clearing houses and intermediary businesses, in order to support the inclusion of digital assets as underlying assets recognized under the Derivatives Act. Under the proposal, digital asset operators can apply for derivatives business licenses without setting up a new company.

According to MediaNama, the proposed digital asset derivatives license would permit engaging in derivatives agency, proprietary trading, investment advisory and investment management businesses, with a license fee of 500,000 baht; existing digital asset exchanges, brokers and dealers are exempt from application and license fees; among digital asset operators, only exchanges and brokers may apply to operate derivatives exchanges, and digital asset custodians may not apply for clearing house licenses.

The consultation period ends on November 28. The Thai SEC already sought public comment on the relevant principles from April to May this year.