Presently, the digital asset business operators are required to hold shareholders’ equity as a minimum capital requirement to assure their sufficient capital for continuous business operations. Meanwhile, the current regulations on such criteria has not yet covered risks associated with custody of clients’ assets for the digital asset business operators who can access into or transfer customers’ assets.

SEC has planned to revise regulations on capital requirement for the digital asset business operators who can access into or transfer customers’ assets so that such operators hold the required capital that reflects risks associated with custody of clients’ assets and helps bring good risk management. Net capital (NC) requirement will be applied for the digital asset businesses. Such digital asset business operators are required to hold net capital at an amount of no less than “minimum capital” based on value of custody of clients’ assets. This move aims to cope with damages if cyber attack or any other damages occur. In addition, these business operators must prepare and deliver information involving calculation of net capital. In a case that net capital falls below 1.5 times of the minimum capital, reasons must be given to  SEC immediately.

Digital asset business operators, who do not custody of clients’ assets or custody of clients’ assets but cannot access into or transfer clients’ assets, follow the current regulations on holding shareholders’ equity as the capital requirement.

SEC disseminates the public hearing document on this issue at SEC website: www.sec.or.th/hearing.

Any related and interested parties are welcome to make comments at the website or facsimile: 0-2033-9660 or e-mail: teerawatt@sec.or.th until 4 March 2019.

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Remark: Public Hearing Document  https://capital.sec.or.th/webapp/phs/upload/phs1550220476hearing-10-2562.pdf