The Thailand Royal Decree on Digital Asset Businesses B.E. 2561 (2018) from the stipulates that the Thai Securities and Exchange Commission (SEC) shall be the main regulator for digital token offering and undertaking of digital asset businesses with the authority to issue relevant rules, conditions and procedures. The Royal Decree covers the following:
1. Digital assets. Under the Royal Decree includes Cryptocurrencies and Digital Tokens:
- Cryptocurrency means an electronic data unit built on an electronic system or network which is created for the purpose of being a medium of exchange for the acquisition of goods, services, or other rights, including the exchange between digital assets.
- Digital Token means an electronic data unit built on an electronic system or network for the purpose of specifying the right of a person to participate in an investment in any project or business, or to acquire specific goods, services, or other rights under an agreement between the issuer and the holder.
2. The Offering of Newly Issued Digital Tokens to the Public. Newly issued Digital Tokens must be made by issues in the form of a limited company or public limited company who have obtained approval from the Office of the Securities and Exchange Commission (“the SEC Office”) and have registered and filed a draft prospectus.
3. . Digital Asset Businesses.
4. The Prevention of the Exploitation of Digital Assets to Facilitate Illegal Transactions The Royal Decree.
5. The Maintenance of Financial and Economic Stability.
6. The Prevention of Unfair Trading Practices.