According to PANews, the Thailand Securities and Exchange Commission (SEC) introduced a digital asset regulatory sandbox on August 9, aimed at fostering the experimentation and development of new digital asset services. The SEC's announcement stated, 'Interested parties are welcome to participate in the sandbox to test their digital asset-related services within a flexible regulatory framework, promoting innovation in the capital market,' and added that the sandbox officially launched today.
The agency outlined the eligibility criteria for services, including the qualifications of participants and the scope of the sandbox trials. Eligible digital asset service providers include six types of services: digital asset exchanges, brokers, dealers, fund managers, advisors, and custodial wallet providers. The SEC noted, 'Sandbox participants must integrate their innovations into the development of digital asset services in Thailand's capital market or participate in the monetary market regulatory authority's sandbox.' In addition to other qualifications, the Thailand SEC will also consider aspects such as capital adequacy, work systems, management structure, and other conditions to ensure that sandbox participants are well-prepared to provide services within the framework.
Participants must also clearly define the scope of their services to minimize potential risks and impacts during the sandbox period, which should not exceed one year from the date of approval. The SEC added that after the sandbox period expires, participants can apply for an extension of the service testing period.