The post Thailand SEC Launches New Digital Asset Regulatory Sandbox appeared on BitcoinEthereumNews.com.

On August 9, 2024, the Thailand SEC launched its Digital Asset Regulatory Sandbox, aiming to drive innovation within the country’s Bitcoin and digital asset industries. This initiative creates a controlled environment where firms can test new cryptocurrency services under a flexible regulatory framework. The sandbox, approved earlier this year in March and refined after positive public feedback in May, will allow participants to trial services while ensuring they adhere to Thai regulatory standards. Eligible companies include those involved in crypto exchanges, asset brokerage, virtual asset dealing, fund management, advisory services, and custodial wallets. To participate, companies must demonstrate strong financial stability, effective management structures, and secure operations, along with clearly defining their service scope to mitigate potential risks. This new framework is expected to stimulate growth in Thailand’s digital asset market by attracting both local and international players, potentially boosting innovation and competition. Binance TH, which recently began operations in Thailand, may join the sandbox, which could further enhance its service offerings and set a precedent for other major entities.  The move aligns with a broader trend in Asia, where similar regulatory initiatives are being introduced to foster digital asset innovation. Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions. Source: https://bitcoinworld.co.in/thailand-sec-launches-new-digital-asset-regulatory-sandbox/

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Filed under: News - @ August 11, 2024 6:10 am