The Thai Securities and Exchange Commission (SEC) has proposed new regulations to enable mutual and private funds to invest in digital assets.
In order to keep up with what’s happening in other countries and meet the needs of institutional investors who are becoming more interested, the Thai Securities and Exchange Commission (SEC) has proposed new rules that would let mutual and private funds invest in digital assets.
On Wednesday, a draft proposal was published, which is currently seeking feedback from the public regarding the revisions to the criteria for funds that invest in digital assets.
The Securities and Exchange Commission (SEC) is contemplating the possibility of enabling asset management firms and securities companies to offer services to institutional investors who are interested in diversifying their portfolios with crypto-related products, such as exchange-traded funds.
According to the statement, the regulator’s goal is to guarantee that its regulations are in accordance with global trends in digital assets and to offer investors supplementary opportunities to diversify their portfolios through expert management.
This was the consequence of a substantial increase in international interest and demand for US-listed Bitcoin and Ethereum ETFs, which were authorized for trading in January and May, respectively.
The regulator noted that Thai investors could currently access crypto ETFs abroad; however, the current framework for mutual funds, which has been in place since 2015, has not kept up with the changes in digital asset investing overseas.
A preliminary translation of the proposal indicates that the SEC Office intends to modify the criteria for accepting investment in digital assets to align with international development.
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