Thailand to Allow the tokenization of Securities on Blockchain
Thailand’s National Legislative Assembly has officially allowed the issuance of tokenized securities on blockchain, major newspaper The Bangkok Post reports on Friday, Feb. 22.
According to the article the Thai government will be amending the Securities and Exchange Act to allow the tokenization of securities such as stocks and bonds.
The Thai Securities and Exchange Commission (Thai SEC) will issue additional rules so that crypto platforms can seek a securities depository license. According to Thai SEC deputy secretary Tipsuda Thavaramara, the regulator will also allow businesses that operate as depositories of securities and digital tokens to apply for such licenses.
The article also notes that Thai SEC will also decide whether a security token offering is regulated under the current securities act or the royal decree on digital assets. The decision will depend on the rights and obligations associated with a particular token.