Thai SEC Advances Crypto Hub Ambition with New ETF Rules
The Thai stock market regulator is taking another step towards its goal of becoming a regional crypto hub. The local SEC has opened two public consultations on August 24, one on the rules for future Bitcoin and Ether ETFs listed locally, and the other on foreign custodians of digital assets authorized to operate in the country.
The consultation period will end on September 20, after which the regulator will continue with the regulatory process. The proposed rules include a minimum exposure floor of 80% for future Thai ETFs, and passive management limited to the Stock Exchange of Thailand (SET).
Bitcoin and Ether are eligible for this first phase due to their liquidity, while other assets have not met the regulator's standards. Management companies will need to prove they have the personnel and systems suitable for this type of product before any effective launch.