The proposed revisions aim to allow digital asset business operators to provide derivatives services referencing digital assets* without the need to establish new legal entities. They also seek to promote broader recognition of digital assets as an investment asset class, and to provide investors with additional options for investment risk hedging. These measures are expected to enhance the SEC’s regulatory oversight across all types of businesses to a unified standard, as well as to strengthen the regulatory requirements applicable to derivatives exchanges and derivatives clearing houses, in line with international standards.

Accordingly, the SEC has reviewed and proposed revisions to the licensing framework for derivatives businesses, with the following key points:

          (1) Revising the licensing criteria to facilitate interested parties and digital asset business operators in engaging in derivatives businesses without imposing undue regulatory burdens. In this regard, where a digital asset exchange seeks to apply for a derivatives business license, it must put in place appropriate measures to prevent conflicts of interest, as such arrangements may pose risks arising from access to clients’ trading order information, which could potentially be used for the benefit of the operator itself or its related persons;

          (2) Revising the financial reporting standards applicable to derivatives exchanges and derivatives clearing houses to further strengthen regulatory oversight of the derivatives market infrastructure.

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=1154 and on the Legal Hub (https://law.go.th/) at https://law.go.th/listeningDetail?survey_id=NjkyMERHQV9MQVdfRlJPTlRFTkQ=. Stakeholders and interested parties are invited to submit comments via the SEC website or by email at hathaiphat@sec.or.th or ekarit@sec.or.th (for licensing of intermediary businesses) or at nopnol@sec.or.th, patima@sec.or.th, wasin@sec.or.th, or dusit@sec.or.th (for licensing of derivatives exchanges and derivatives clearing houses). The public hearing ends on 20 May 2026.

Note: * Digital assets are designated as eligible underlying assets under the Derivatives Act
B.E. 2546 (2003) to enhance the development of Thailand’s derivatives market in line with international derivatives markets and to accommodate increasing investor demand.