Thailand approves crypto as underlying assets in derivatives markets
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Thailand’s government on Tuesday approved the Finance Ministry’s proposal allowing digital assets to be used as underlying assets in the country’s derivatives and capital markets.
The move aims to modernize Thailand’s derivatives markets in line with international standards, strengthen regulatory oversight and investor protection, and position itself as a regional hub for institutional crypto trading, the Bangkok Post reported.
The country’s Securities and Exchange Commission (SEC) will amend the Derivatives Act to enable these new asset classes, which include Bitcoin (BTC) and carbon credits.
“The decision to formally recognize digital assets, including cryptocurrencies and digital tokens [...] reflects a growing understanding that digital assets are no longer merely speculative instruments, but an emerging asset class with the potential to reshape the foundations of capital markets,” said Nirun Fuwattananukul, chief executive of Binance Thailand.
He added that it was a “watershed moment” for the country’s capital markets, sending a “strong signal” that Thailand is positioning itself as a “forward-looking leader” in Southeast Asia’s digital economy.
Strengthening crypto recognition for investors
Thailand is targeting wealthy institutional investors as it expands its crypto ambitions. The move also aligns with the Stock Exchange of Thailand’s plans to introduce Bitcoin futures and exchange-traded products in 2026.
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SEC secretary-general Pornanong Budsaratragoon said the move will “strengthen the recognition of crypto as an asset class, promote market inclusiveness, enhance portfolio diversification, and improve risk management for investors.”
Still no crypto payments in Thailand
Retail trading remains popular in Thailand, with the Kingdom’s largest exchange, Bitkub, seeing daily volumes of $65 million, according to CoinMarketCap.
However, the central bank has outlawed crypto payments, and consumer stablecoin use remains restricted.
The government launched an app in August for short-term tourists to convert crypto to local currency, but users must undergo stringent Know Your Customer (KYC) and customer due diligence checks, and usage remains restricted to government-approved outlets.
Thailand launched a campaign in January against so-called “gray money,” targeting crypto as part of an effort to combat money laundering.
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