According to BlockBeats, on August 9, Cointelegraph reported that the Securities and Exchange Commission of Thailand (SEC) launched a digital asset regulatory sandbox on August 9, aiming to promote 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 and promote the innovative development of the capital market under a flexible regulatory framework,” adding that the sandbox was officially launched today.
The agency has published the regulations for eligible services, including the eligibility of participants and the scope of sandbox trials. Eligible digital asset-related 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 incorporate their innovations into the development of digital asset services in Thailand's capital market or must participate in the sandbox of the money market regulator." Among other qualifications, the Thai SEC will also consider aspects such as capital adequacy, work systems, management structures, and other conditions to ensure that sandbox participants are fully prepared to provide services within the framework. Participants must also clarify the scope of services to reduce potential risks and impacts that may occur during the sandbox period, which is no more than one year from the date of approval. The SEC added that after the sandbox expires, participants can apply to extend the service testing period.
