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Thailand’s financial market regulator has introduced a regulatory sandbox aimed at testing cryptocurrency products and services.
The Securities and Exchange Commission of Thailand (SEC) has revealed the establishment of the Digital Asset Regulatory Sandbox, a controlled environment for the development and assessment of cryptocurrency services. This sandbox is intended for experimentation with digital asset services under the oversight of local regulatory authorities.
This initiative will enable participants in the domestic crypto market to assess the services they provide for potential risks and adverse effects on the nation’s financial market. The regulator has invited stakeholders to engage in the sandbox to mitigate the possible impact of their offerings on the local economy. The goal of this initiative is to foster a transparent and coherent regulatory framework for digital assets.
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The SEC promotes the utilization of its sandbox by:
- crypto exchanges;
- digital asset brokers and dealers;
- fund managers;
- advisors;
- custodial crypto wallet providers.
The primary aim, as stated by the regulator, is to facilitate innovation while ensuring the stability of the local financial system amid increasing interest in digital assets.
While Thai authorities are pursuing a more accommodating approach to regulating the cryptocurrency industry, the country is also broadening the taxation of digital assets, and certain crypto services continue to be prohibited.
Сообщение Thailand Launches Regulatory Sandbox to Test Crypto Services появились сначала на CoinsPaid Media.
