Thailand’s Securities and Exchange Commission (SEC) is preparing rules to broaden cryptocurrency exchange-traded funds (ETFs) beyond Bitcoin.
Alongside this effort, regulators are tightening oversight of digital asset businesses through new auditor approval requirements.
Thailand Prepares Framework for Expanded Crypto ETFs
Thailand’s SEC is drafting regulations that could allow mutual funds and institutional investors to launch cryptocurrency ETFs covering more than just Bitcoin.
Sponsored
Sponsored
“Our possibility now is to broaden the criteria for the crypto such as a basket of cryptocurrencies,” SEC secretary-general Pornanong Budsaratragoon said.
Currently, Thai investors can access crypto by buying tokens directly. They can also invest through licensed asset managers who use overseas ETFs. The new initiative would enable domestic offerings of crypto ETFs. It provides easier access to diversified digital asset products.
Regulators see the move as part of efforts to make tokenized instruments mainstream investment options. The Stock Exchange of Thailand has fallen 7.6% this year, and officials note that younger investors in particular are seeking alternative assets to diversify their portfolios.
The ETF initiative underscores Thailand’s ambition to
Go to Source to See Full Article
Author: Shigeki Mori
