SEC has held a public hearing regarding the notification of “digital asset advisory service” and “digital asset fund managers” as new digital asset businesses during 8 July 2019 – 20 August 2019. This time, SEC establishes the regulations concerning related businesses for applicants requesting operating licenses. Such businesses include standards for operating businesses and work systems. Determining transactions waived from the definitions of being digital asset advisers and digital asset fund managers and determining digital asset fund managers require a process to select outsiders to proceed with customers’ asset safekeeping. This is to allow the general public to reap standardized services, while business operators are under proper supervision, in the same level with supervision on securities and derivatives businesses.

In addition, SEC introduces additional regulations on operating businesses like a professional to all types of digital asset business operators. Examples include servicing customers with integrity, honesty, quality, fairness and equality. In a case that a digital asset business operator will outsource other parties, the business operator is required to follow the notification on securities businesses.

SEC disseminates the public hearing document on this issue at SEC website: https://www.sec.or.th/TH/Pages/PB_Detail.aspx?SECID=578.

Any related and interested parties are welcome to make comments at the website, facsimile: 02-033-9712, 02-033-4639, 02-033-9700, 02-263-6071 or 02-263-6221 or e-mail: piyaruj@sec.or.th, ornicha@sec.or.th, wasu@sec.or.th, kunpatu@sec.or.th  or nichaya@sec.or.th until 16 November 2019.
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Remark : Public Hearing Document No. Aor Nor Thor. 38/2019 on Regulatory and Supervision of Digital Asset Advisory Service and Digital Asset Fund Manager