The SEC Board, at the meeting on 7 May 2026, resolved to approve the revision of the NC requirements for digital asset business operators to support local activities in trading and the custody of customers’ assets (local activities), as well as the NC requirements applicable to securities and derivatives business operators. The revisions aim to foster a domestic ecosystem that facilitates linkages among such business operators; to reduce reliance on foreign service providers under stricter conditions regarding accountability and the security of systems used for safeguarding customers’ assets; and to revise the NC requirements to better reflect actual risks and to align with the diverse nature of digital asset businesses.

Furthermore, the NC requirements for securities and/or derivatives business operators that also engage in digital asset businesses (i.e., traditional and digital asset businesses under the same entity) will be revised to enhance appropriateness. The NC requirements for derivatives business operators will also be revised to provide broader coverage of business activities.

The SEC is therefore seeking public comments on the proposed principles, with the key elements as follows:

          (1) Review and revision of the NC requirements for digital asset business operators required to maintain capital under the NC-1 approach*, by introducing new types of risks, namely counterparty risk, settlement risk, and fund management risk.

          (2) Revision of the requirements for digital asset business operators to support local activities, by revising the requirements to enhance flexibility in the operations of digital asset exchanges (DA Exchange) and digital asset brokers (DA Broker), as well as revising the NC requirements for digital asset custodians (DA Custodian) to ensure appropriateness and proportionality to the risks of their business operations.

          (3) Other matters, including other revisions resulting from the introduction of new risk categories, revision of minimum capital thresholds triggering business cessation for operators conducting both traditional and digital asset businesses under the same entity, and revision of the definition of derivatives business operators to provide broader coverage.

          (4) Revision of reporting forms and explanatory notes for the preparation of NC report.

In this regard, the consultation paper is available on the SEC website (www.sec.or.th) at https://www.sec.or.th/TH/Pages/PB_Detail.aspx?SECID=1173  and on the Legal Hub at https://law.go.th/.  Stakeholders and interested parties are invited to submit comments via the relevant websites or by email to thanapa@sec.or.th sarunb@sec.or.th, pisut@sec.or.th, sawarin@sec.or.th, and arthipha@sec.or.th. The public hearing ends on 25 June 2026.

Note: 
The NC-1 approach applies to digital asset exchanges, digital asset brokers, digital asset dealers, digital asset fund managers that provide custody of customers’ assets, and digital asset advisors that provide custody of customers’ assets.