Thailand’s securities regulator will exempt asset management companies and securities companies from having to obtain a digital asset fund manager licence.
The Securities and Exchange Commission Thailand (SEC) says the exemption applies to securities companies and asset management companies that hold licences for mutual fund and private fund management and engage in digital asset investment management.
“The objective is to allow traditional financial institutions to play a role in supporting the growth of investment tokens while enhancing flexibility and diversification in mutual fund and private fund investments,” the SEC says in a statement on March 24.
The rule change came after the regulator conducted a public hearing on the proposed changes in the fourth quarter of last year. The majority of stakeholders and respondents expressed support for the proposed amendments, according to the SEC.
The SEC adds that the regulation amendment is also aimed at facilitating “greater investor access to investment tokens in both primary and secondary markets through traditional financial institutions”.
“Such a development will contribute to a more complete investment token ecosystem while increasing investment flexibility and diversification for mutual funds and private funds. These securities companies and asset management companies will remain under securities regulations,” the SEC says.