Thailand’s Securities and Exchange Commission (SEC) has revised its net capital requirement rules for brokerages and securities firms, including digital asset businesses.
According to a report by the Bangkok Post, the revised rules are aimed at raising liquidity in the market and supporting the growth of new businesses, including cryptocurrency exchanges.
The report said that under the revised rules, digital assets would also be counted as capital funds but the maximum amount calculable in digital assets for a firm’s total required capital would be 50% of the asset value.
Thailand has already made major strides towards furthering digital asset and blockchain adoption, as evidenced in its blockchain-enabled issuance of government bonds and its plans to move judicial system records onto a blockchain.
Thailand’s electronic letter of guarantee platform (eLG) has processed around $300 million in guarantees since its launch in late 2019.
