According to BlockBeats, on August 12, the Thailand Securities and Exchange Commission (SEC) announced the launch of a regulatory sandbox for cryptocurrency enterprises. The SEC stated that the sandbox aims to facilitate experimentation and support the innovative development of digital asset services in a real-life context. The sandbox is open to six types of participants, including digital asset trading platforms, brokers, dealers, fund managers, advisors, and custodial wallet providers. Participants must pass the SEC's assessments on capital adequacy, work systems, and management structures before entering the sandbox.
Earlier this year, Thai authorities implemented several measures favourable to cryptocurrency development. For instance, in February, the Ministry of Finance extended the value-added tax exemption for cryptocurrency transactions, and in March, the SEC relaxed regulations to allow professional investors to invest in U.S. spot Bitcoin ETFs. The launch of the regulatory sandbox indicates Thailand's attempt to strike a balance between strengthening regulation and promoting innovation.