SEC amends rules on quota allocation for foreign exchange transactions of digital asset fund managers
The Securities and Exchange Commission (SEC) has amended the regulations related to quota allocation for foreign exchange transactions to allow digital asset fund managers to apply for such quota allocation in the same manner as other types of digital asset business operators to provide the best benefits for clients.
On 10 November 2022, the SEC Board Meeting No. 15/2565 passed a resolution approving the SEC’s proposal for amending the regulations related to quota allocation for foreign exchange transactions of digital asset business operators. Essentially, the proposed amendment would allow digital asset fund managers to apply for a quota to execute foreign exchange transactions with financial institutions in Thailand regarding purchases of digital assets overseas and payments for related expenses. The intended outcome of the proposed amendment is to promote consistency and common standards of business operation among digital asset business operators while facilitating more efficient operation of digital asset fund managers. A public hearing on the proposed amendment showed unanimously positive responses.
The SEC has therefore amended the regulations related to quota allocation for foreign exchange transactions of digital asset business operators,* applying to digital asset fund managers inclusively. The amendment takes effect on 1 February 2023.
In any case, the quota allocation for foreign exchange transactions of digital asset business operators is approved annually or periodically, as specified by the Bank of Thailand (BOT).
________________________
Remark: * The Notification of the Securities and Exchange Commission No. Kor Tor. 30/2564 Re: Regulations on Quota Allocation for Foreign Exchange Transactions of Digital Asset Business Operators, dated 22 September 2021.
First, please LoginComment After ~