Thailand’s SEC Eases Investment Restrictions in Select Digital Assets

cryptonews.com:

The Securities and Exchange Commission (SEC) of Thailand has updated the criteria for investing in digital tokens, easing some restrictions.

In a meeting held on March 2, 2023, the SEC Committee approved the principles for improving investment criteria and related criteria for digital asset business operations, aiming to establish effective investor protection mechanisms while considering the risks associated with digital assets.

Following the completion of the draft announcement in September 2023, which received positive feedback from the majority of commentators, the SEC opened the floor for public comments, according to an official announcement. 

Based on the input received, the SEC enhanced the rules governing investments in digital tokens and related services.

For one, the commission has lifted investment restrictions previously imposed on retail investors for digital tokens backed by real estate or generating real estate income streams (real estate-backed ICOs) and digital tokens with infrastructure operations or revenue streams (infra-backed ICOs).

Previously, retail investors were limited to investing a maximum of 300,000 baht per offering.

The SEC also reviewed the criteria for establishing custodial wallet provider businesses, enabling them to offer services to digital asset business operators.

However, it said that these businesses must have major shareholders who may be listed companies or subsidiary companies, possessing the necessary expertise and experience in safeguarding clients’ securities or other financial assets.

Compliance with SEC-specified independence criteria is also required.

Furthermore, digital asset business operators seeking to engage in additional business activities must obtain permission from