The Securities and Exchange Commission of Thailand (SEC) is seeking public input on proposed regulations regarding capital requirements for securities companies and derivatives operators involved in digital asset services.
These latest regulations aim to ensure adequate protection for digital asset traders and establish uniform standards for all digital asset operators, in line with current market developments.
This initiative follows an earlier public consultation on proposed principles to revise capital regulations for digital asset operators, including capital requirements for securities and derivatives. Feedback from previous public hearings has been incorporated into the latest draft.
The SEC’s new hearing focuses on draft regulations and related exhibits regarding capital requirements applicable to operators of digital asset exchanges, intermediaries, and trading.
The goal is to ensure that these operators meet the same standards as operators not involved in securities or derivatives.
The draft regulations propose to revise minimum capital requirements to support digital asset business operations.
This includes aligning net capital (NC) requirements for hot and cold wallet assets to the proportion and source of customers’ digital asset custody, and incorporating NC requirements for risk for digital asset trading services. Masu.
Criteria for business suspension will also be revised, requiring businesses unable to maintain the required capital to submit and implement a corrective plan.
If a business does not comply, it must cease operating the digital asset and notify customers.
Additionally, the regulation proposes alternative channels for capital maintenance, such as insurance contracts or digital assets of the same type (same coin) as the customer, and specifies deadlines for submission of net capital calculation reports.
of Consultation form Available on the SEC website. Interested parties and interested parties can submit comments and recommendations in the following ways: Email. The hearing will conclude on May 27, 2024.
