SEC and TDO exchange views on developing digital asset market for the Thai economy
SEC Secretary-General Pornanong Budsaratragoon said: “The SEC focuses on both the development of the digital asset market and the supervision of digital asset business operators. We consider the characteristics and risks associated with rapidly evolving digital assets and apply the principle of “same activity, same risk, same regulatory outcome.” This aligns with the TDO's important goal of driving the industry growth. Over the years, the SEC and the TDO have collaborated to promote the use of digital assets as a fundraising tool, ensure appropriate investor protection, and develop guidelines for supporting digital asset businesses in Thailand. Our collaborative efforts will continue.”
The key takeaway from this meeting was that the SEC and the TDO will work together to support various initiatives aimed at developing the Thai digital asset market. This includes coordinating with relevant authorities on tax matters and amending legislations related to digital assets and oversight regulations in the areas such as customer-asset custody and Know Your Customer (KYC) / Customer Due Diligence (CDD) criteria, etc. These efforts will keep an appropriate balance between development and supervision in the digital asset ecosystem. Furthermore, standard training courses will be promoted to ensure that personnel in the digital asset industry will have sufficient knowledge and competency for providing services to investors. All these approaches are expected to build trust and confidence among stakeholders, subsequently leading to a trustworthy digital asset market that supports sustainable growth of the capital market and the digital economy at large.
“We would like to sincerely thank all TDO members for joining this transformative occasion to strengthen our cooperation and proactive teamwork to further advance the digital asset market and the overall capital market,” added SEC Secretary-General.
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