Thailand SEC Says No to Bitcoin ETF Trading
Thailand's SEC says no to Bitcoin ETF trading while allowing digital investments through local exchanges.
A report from a local news source on January 17 reported that Thailand's Securities and Exchange Commission (SEC) has decided not to allow trading of spot Bitcoin ETFs. These ETFs let investors buy into Bitcoin through mutual funds. However, the Thai SEC says they are not ready to support these products in Thailand yet.
On January 10, the US approved 11 companies to start their own Bitcoin ETFs, including BlackRock, a big name in asset management. The Thai SEC, however, said they don't have the right policies to do the same in Thailand. They've been watching the US developments but aren't prepared to allow these ETFs in Thailand now.
Thai investors can still invest in digital currencies through local, licensed exchanges. This is under the Digital Assets Decree, which ensures fair and transparent trading. Also, securities companies can offer their customers foreign investment products, as long as these are similar to those allowed in Thailand.
For now, the Thai SEC will keep an eye on how these ETFs work and are managed elsewhere. They will use this information to maybe create future crypto ETF policies.
