Thai SEC Weighs Bitcoin ETFs, Targets Crypto Playing Platforms

• Thailand’s SEC explores spot Bitcoin ETFs to develop crypto funding choices regionally.
• Stablecoin proposals intention to widen entry to debt markets with company bond backing.
• Polymarket crackdown highlights Thailand’s efforts to curb unlawful crypto playing.

Thailand is reviewing plans to introduce spot Bitcoin ETFs and stablecoins into its monetary system whereas addressing issues about crypto-related actions. The nation’s Securities and Trade Fee (SEC) is main the initiative, reflecting Thailand’s evolving method to cryptocurrency adoption.

Spot Bitcoin ETFs: A Transfer Towards Crypto Accessibility

The Thai SEC is contemplating proposals to permit spot Bitcoin ETFs, creating new funding alternatives for retail and institutional traders. Pornanong Budsaratragoon, the SEC’s Secretary-Basic, emphasised the necessity for Thailand to adapt to the worldwide rise of cryptocurrencies whereas making certain satisfactory investor safety.

At present, direct Bitcoin ETF listings stay unavailable on Thai exchanges. Nonetheless, in June 2024, One Asset Administration launched a fund-of-funds that gives publicity to worldwide Bitcoin ETFs. Though progress has been made, native listings are nonetheless anticipated.

Associated: SCB Launches Stablecoin Service for Cross-Border Funds in Thailand

Stablecoins Provide New Avenues for Buyers

The SEC can also be assessing the potential of stablecoins backed by company bonds to boost debt market accessibility. Authorities bond-backed stablecoins are being proposed by Thailand’s ruling Pheu Thai Occasion, aiming to diversify funding choices for retail and institutional traders.

These efforts replicate the federal government’s intent to combine stablecoins into Thailand’s monetary panorama to advertise financial progress.

Polymarket Beneath Scrutiny for Playing Allegations

Whereas advancing cryptocurrency rules, Thailand’s authorities are cracking down on crypto-based platforms like Polymarket. The Know-how Crime Suppression Division (TCSD) has accused the platform of working as an unlawful playing web site.

Lieutenant Basic Trairong Phiwpaen acknowledged that Polymarket’s use of cryptocurrencies for prediction markets violates Thai playing legal guidelines. The crackdown aligns with related actions taken in Singapore, France, and Taiwan, the place Polymarket confronted restrictions attributable to regulatory issues.

Regardless of regulatory strain, Polymarket recorded a buying and selling quantity of $515 million within the first 15 days of 2025, underscoring its persistent market exercise.

Associated: Thailand in Partnership Talks With Ripple Over XRP Adoption