Regulatory Momentum Builds as Russia and Thailand Take Steps Towards Digital Asset Clarity
Russia's new licensing regime for digital assets has come into effect, bringing exchanges, brokers, custodians, and other market participants under a formal regulatory regime. The law maintains the current ban on using digital currencies as a means of payment within Russia, but allows for selected cross-border transactions.
The framework includes a registration and regulatory regime for digital-asset exchanges, brokers, custodians, and digital depositories, which will operate under the supervision of the Bank of Russia. Retail participation will be tightly regulated, with non-qualified investors subject to annual purchase limits.
In Thailand, the Securities and Exchange Commission is seeking public comments on proposed amendments that would allow intermediaries to facilitate investments in overseas digital asset derivatives. The SEC aims to broaden investment opportunities while calibrating access and protections according to product risk levels.