Bangkok, 11 December 2019 – The SEC is seeking public comments on the proposed amendments to the rules and guidelines for supervising digital asset businesses and ICO portals to better meet the current industry ecosystem and international standards. The proposal also aims to promote digital asset business by increasing efficiency of business operation and protection of investors’ interest.
Essentially, the amendments would apply to digital
asset business operators, i.e., exchanges, brokers and dealers, and cover the
licensing process, from change to the fee payment time frame to extension to
the time frame of readiness preparation for business commencement in case of
necessity. In addition, the regulations governing key aspects of digital asset
business operation would be amended. For example, data storage system,
management system and custody of client assets. This is to promote flexibility in
business operation while ensuring that supervisory guidelines are appropriate
and comply with international standards.
In addition, to enhance protection of investors’ interest, SEC is proposing to revise
the regulations related to ICO portals including the approval process, IT management
guidelines and data storage.
The consultation paper is available at https://www.sec.or.th/TH/Pages/PB_Detail.aspx?SECID=590. Stakeholders
and interested parties are welcome to send comments or suggestions to www.sec.or.th or facsimile:
02-033-9660
or e-mail: jirawut@sec.or.th, jesada@sec.or.th or peerapong@sec.or.th.
The public hearing ends on 3 January 2020.