Thailand has approved the trading of security-tokens

[Paha87]

According to a report released on Friday by the Bangkok Post, Thailand's National legislative Assembly approved an amendment to the securities and exchange Act allowing the issuance of securities such as stocks and bonds on the blockchain.

As a result, the national securities and exchange Commission of Thailand (SEC) has amended the law - a change that will come into force later this year. Thailand's SEC will reportedly issue detailed guidelines and rules for tokenized and electronic securities in the coming months.

The Deputy Secretary-General SEC Tipsuda Themarmara said Nostromo Agency that "legislative efforts will pave the way for platforms tokenization in the future, which will help the development of the ecosystem of digital assets".

Licensing of crypto-businesses

The amendment will also allow companies to obtain a license to operate as depositories of securities and digital tokens. Previously, it was limited to the business of the Thai Securities Depository Co Ltd, a subsidiary of the company the stock exchange of Thailand (SET), reports the Bangkok Post.

Crypto-business in Thailand is regulated in accordance with the Extraordinary decree on companies engaged in digital assets 2561 of 2018.

The SEC will decide whether the offer of security tokens (tokens representing securities) will be regulated by a Royal decree or an act on securities will be drawn up. "It will depend on the particulars of the rights and responsibilities associated with this token," said Pariah Techamuanvivit, Director of corporate communications with the SEC.

The Ministry of Finance is already issuing licenses for the use of digital assets. Previously, such licenses received four crypto-company, and two of the application, the regulator dismissed in January.

Link - https://altstake.io/news/tailand-odobril-torgovlyusecurity-tokenami