The SEC has amended the regulations relating to the listing rules of digital asset exchanges to ensure alignment with the current context of the digital asset industry, practical use cases, and the overall digital asset ecosystem, while maintaining suitable investor protection and supervisory mechanisms to prevent and manage conflicts of interest, market manipulation, and unfair trading practices. The SEC has recently strengthened its regulations to enhance the effectiveness of these mechanisms. Public comments on the proposed amendments were collected during June–July 2025, and the majority of respondents agreed with the principles. The SEC has therefore issued the relevant notifications* to implement the regulations. Key points include:
          (1) Allowing digital asset exchanges to list cryptocurrency or ready-to-use digital token issued by the digital asset exchange itself or the affiliated person, for the purpose of use on blockchain;
          (2) Requiring digital asset exchanges to disclose, via the SEC’s electronic reporting system (e-reporting), the list of the issuer’s related persons for any digital tokens listed by that issuer on the exchange. This requirement enables the SEC to monitor, investigate, and prevent insider trading in digital tokens and enhances insider-trading prevention measures in line with the use of smart detection tools for off-site monitoring. For digital tokens already listed on a digital asset exchange before the effective date of the new rules, the exchange must ensure that issuers whose tokens are listed on the exchange disclose their related persons to the exchange within 90 days from the effective date of the notification.

Notes:

* Two relevant notifications are:  

        (1) Notification of the Securities and Exchange Commission No. Kor Thor. 22/2568 Re: Rules, Conditions and Procedures for Undertaking Digital Asset Businesses (No. 30): (https://publish.sec.or.th/nrs/10938s.pdf)
        (2) Notification of the Office of the Securities and Exchange Commission No. Sor Thor. 40/2568 Re: Rules in Detail related to Information Disclosure of Digital Asset Business Operators (No. 2): (https://publish.sec.or.th/nrs/10941s.pdf)
            Table 1: Specific Details of Digital Asset Business Operators Required to Be Collected and Disclosed to the SEC: (https://publish.sec.or.th/nrs/10939s.pdf)
            Table 2: Specific Timeframes for Collection and Disclosure of Information of Digital Asset Business Operators: (https://publish.sec.or.th/nrs/10940s.pdf)