The Securities and Thai Stock Exchange Committee (SEC) prepares new rules to allow local funds to be exchanged in the exchange (ETFS) and expand the potential squad beyond Bitcoin (BTC).
Thai SEC to expand the ETF collection with new rules
On Wednesday, the Secretary -General of Thailand, Pornong Budsaratrago, open The organizational agency expands Crypto ETF plans outside Bitcoin and includes other digital assets in the coming months.
In an interview with Bloomberg, the organizer stated that SEC and other agencies formulate new rules to allow local joint boxes and institutions to provide investment funds circulating in digital assets for the first time, with the start of starting in early 2026.
It should be noted that Thai investors can currently be exposed to these products by investing in the funds managed by licensed asset management companies that invest in investment funds circulating abroad.
In June 2024, SEC from Thailand officially approved the management of one assets to launch the ETF from the Bitcoin Fund, which allows institutional investors to be exposed to BTC investment products listed abroad.
In January, the Secretary -General revealed that the organizational agency was evaluating the list of investment funds circulating in the local bitcoin to enhance the country’s digital asset market, which confirms the organizer’s intention to allow both individuals and institutions to invest in the bitcoin funds listed locally.
“We must adapt and ensure that our investors have more options for encryption assets with appropriate protection,” she explained at that time. The new rules will exceed the current restrictions and expand the possible ETF assortment to a wider basket of encryption assets.
“Our possibility now is to expand encryption standards like a cryptocurrency basket,” Pornanong told Bloomberg. “We want to have a wider supply of encryption assets in the traded investment funds.”
Thailand continues the efforts of the encryption center
The Secretary -General also highlighted the desire of investors to diversify their portfolios and adopt digital assets as part of their investment strategies, especially among young people, noting that the agency’s main task is to “facilitate” this request under a legal framework.
The report stated that Thai organizers rush their efforts to become a regional encoding center, as it has developed multiple policies aimed at making distinctive investment options for symbolic products.
Earlier this year, the Securities and Stock Exchange Commission, along with Thailand (BOT), has provided a sand box in tourist areas to enhance the country’s attractiveness as a technology destination, enhance innovation, and use digital assets to enhance the economy and tourism industry.
As Bitcoinist, Souristdigipay Sandbox, which was launched in August, aims to facilitate the conversion of digital assets into Thai BAHT for spending purposes for foreign visitors, allowing Bitcoin and digital assets as payment methods in tourist areas to pay adoption.
Moreover, the organizational agency has also suggested al Qaeda changes to provide encryption exchanges with elasticity while enhancing investor protection and control, allowing digital assets platforms to include facilities or symbols issued by affiliated entities.
Meanwhile, the Deputy Minister of Finance in Thailand, Golapon Amornefat, shared a plan to drop the capital profit tax on digital assets for a period of five years. The minister announced that, starting from January 1, 2025, until December 31, 2029, investors who sell their assets through licensed encryption service providers will not have to pay taxes on profits.
Bitcoin (BTC) trades at $118,897 in the one-week chart. Source: BTCUSDT on TradingView
Distinctive photo of Unsplash.com, Chart from Tradingview.com
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