Bangkok Post: Thailand’s financial regulator clears path for scripless issuance, tokenization

An amendment to Thailand’s Securities and Exchange Act received the endorsement of the National Legislative Assembly (legislative branch of the government), paving the way for scripless securities issuance and tokenized securities via blockchain.

Once the amended act is effective, the capital market could see securities such as stocks and bonds being issued and traded via blockchain in the future. Thailand’s financial regulator, the Securities and Exchange Commission (SEC), will further issue relevant rules, and the tokenization platform could soon seek a securities depository licence under the act. The implementation of the tokenization platform is expected to become effective this year, said SEC deputy secretary-general Tipsuda Thavaramara.

The SEC has amended the act to serve the tokenization platform in the future and will build up the digital asset ecosystem, Mrs Tipsuda said.

The SEC will allow businesses operating depository of securities and digital tokens to apply for depository licences. The act previously allowed Thailand Securities Depository, a subsidiary of the Stock Exchange of Thailand, to be the sole company for scripless securities depository to serve the SET’s securities trading operation.

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