Thailand's authorities reportedly can give a green light for issuing and trading of blockchain-based securities.
According to the local news reports, the National Legislative Assembly of Thailand has lately made revised and changed the Securities and Exchange Act, and this step, in fact, makes legal an issue of securities (stocks and bonds) in tokens.
The changes will come in force later in 2019. More details, as well as the instructions for tokenized and electronic type securities, are expected to be announced by Thailand's Securities and Exchange Commission in the near term.
The developments pave the way for tokenization platforms and lay the foundation to develop the ecosystem. In addition, the local businesses are now get the right to provide custody services for securities and digital tokens.
It should be mentioned the Ministry of Finance of the country has already started issuing licenses for digital asset business. Specifically, four crypto companies obtained business approval in January. Notably, the Stock Exchange of Thailand was rumoured to apply for a license to launch a crypto exchange.
Pursuant to the available information, Thai companies dealing with cryptos are running in compliance with the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018). Meanwhile, the country's regulator has not yet decided whether the security tokens offers will be covered by the royal decree or the securities act.