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Thailand SEC Rejects Spot Bitcoin ETF Trading, Citing Unprepared Policies
Thailand’s Securities and Exchange Commission (SEC) has opted against permitting the trading of spot Bitcoin Exchange-Traded Funds (ETFs). The decision, announced on January 17, indicates that the Thai SEC is not prepared to support these investment products in Thailand.
Thailand SEC, Spot Bitcoin ETFs enable investors to gain exposure to Bitcoin through mutual funds. Despite the recent approval of such ETFs by the U.S. SEC for 11 companies, including BlackRock, the Thai SEC stated that they currently lack the appropriate policies to introduce similar offerings in Thailand.
The commission has been closely monitoring developments in the U.S. but deems it unfeasible to allow these ETFs within the Thai market at present.
Thailand SEC- Digital Investments Continue: Thai SEC Allows Cryptocurrency Trading on Local Exchanges
That’s fantastic news! It’s great to see Binance TH expanding with full licensing and regulation by Thailand’s Ministry of Finance and the SEC.
— The World (@TheWorlDefi) January 16, 2024
Congratulations to the team for this milestone!#Binance #Thailand #World
Thailand SEC- Despite rejecting spot Bitcoin ETF trading, Thai investors retain the option to invest in digital currencies through local, licensed exchanges, operating under the guidelines of the Digital Assets Decree. This regulatory framework aims to ensure fair and transparent trading practices in the digital asset space. Additionally, securities companies are permitted to offer customers foreign investment products, provided they are akin to those allowed within Thailand’s regulatory framework.
The Thailand SEC plans to monitor the functionality and management of ETFs in other jurisdictions. This observation will serve as a foundation for potential future policies regarding cryptocurrency ETFs in Thailand.
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