After last week’s historic approval of Spot Bitcoin ETFs (Exchange Traded Funds) by the US Securities and Exchange Commission (SEC), investors worldwide wonder about the possibility of this financial product launching in their countries.

A local source released a report on January 17 stating that Thailand’s SEC has rejected the trading of ETFs in the country “for the time being.”

Thai securities brokerage firms have prompted investors to invest directly in US spot Bitcoin ETFs, as the report explains. However, Thailand’s SEC has stated that it doesn’t plan to allow ETF launches in the country for now.

Despite the rejection of spot Bitcoin ETF launches in Thailand, the regulator maintains that investors still have the option to invest in digital assets through the already licensed domestic exchanges that fall under the Digital Assets Decree, ensuring “fair and transparent” trading for the benefit of Thai investors.

Thailand currently has 9 licensed digital asset exchange operators providing investment in cryptocurrencies that follow the exchange’s listing rules. To protect investors, the SEC requires digital asset operators to have a digital wallet management system and cryptographic keys to ensure business efficiency and protection of customers’ digital assets.

The government enacted the Digital Asset Business Emergency Decree in 2018 to regulate digital asset transactions and all related activities in the country, covering the regulation of cryptocurrencies, digital tokens, and other digital assets for businesses and individuals.

The SEC expressed its desire to “monitor developments, supervision, and operations in various areas to develop further policy guidelines for ETF supervision” that could suit Thailand’s context. However, the licensing requirements and strict rules and regulations businesses face when dealing with digital assets in Thailand create a challenging landscape for cryptocurrencies.

Thailand’s crypto adoption is among the highest worldwide, and its government has implemented various regulations to protect its customers, aiming to ensure the integrity and security of the digital asset market within the country.

In conclusion, while Thailand’s SEC has currently rejected the trading of spot Bitcoin ETFs, it continues to monitor developments and operations in various areas to create policy guidelines for ETF supervision that align with the country’s context and investor protection.

Disclaimer: The information provided in this research report is for informational purposes only and should not be interpreted as financial or investment advice. The NFT and cryptocurrency market is highly volatile, and readers should conduct thorough research before making any investment decisions.