Thai government gives permission for STO

Thai government gives permission for STO

Thailand has stepped up to its road on tokenized securities. National Assembly has endorsed the Securities and Exchanges Act on Feb 8, in which the tokenized and scripless securities will able to issue and trade through blockchain.

For depository of securities and tokens business, they will be allowed to apply a license from SEC. The digital token will be regulated by the act, if it meets the definition of securities like shares and bonds. 

In order to run STO properly, exchanges, brokers, and dealers are required to apply a license. The SEC will further provide clarity on legal perspective, if companies are confused whether their securities can be issued as digital token .

Tipsuda Thavaramara, the deputy secretary general of Securities and Exchange Commission said the act is expected to come into force this year, it will build the digital asset ecosystem, and it also unlock some market efficiency from the traditional system.

Share

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.