Thailand has amended their Securities and Exchange Act to legalize the issuance of tokenized securities.
According the Bangkok Post, the Thai National Legislative Assembly approved the amendment on February 8, 2019. The changes will also allow businesses to be licensed to operate as depositories of securities and digital tokens. This privilege was previously restricted to Thailand’s Securities Depository Co. Ltd., a subsidiary of of the Stock Exchange of Thailand.
Thai Securities and Exchange Commission (SEC) Deputy Secretary General, Tipsuda Thavaramara, indicated the amendment will assist development of tokenization platforms forward-going and encourage the digital asset ecosystem.
The SEC will issue guidelines in the next few months and will enact the amendments later in 2019.
Cryptocurrency businesses in Thailand are currently regulated under the Emergency Decree on Digital Assets Business B.E. 2561 (2018).