Amid the rapid adoption of crypto and the increasing need for regulation in respective regions, Thailand’s financial regulators announced on August 9 the launch of a “regulatory sandbox” designed to “test and refine” cryptocurrency services.
This regulatory sandbox launch comes against the backdrop of the country’s Securities and Exchange Commission (SEC) step-by-step approach, which began earlier this year. The announcement noted:
Earlier in March, the SEC Board passed a resolution approving in principle the establishment of the Digital Asset Regulatory Sandbox. Later in May, the SEC conducted a public hearing on this matter to gather comments and suggestions from the public and stakeholders. Most of the respondents agreed with the principles and the proposed amendments to the governing regulations.
The regulator added that following these steps comes the issuance of “regulations determining the characteristics of eligible services, the qualifications of pa
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