Thailand’s Finance Minister, Pichai Chunhavajira, from the Ruling Pheu Thai Party, has proposed an initiative to streamline the licensing process for securities and cryptocurrency trading. According to local media reports dated January 31, 2025, the Minister’s comments promote the development of the digital asset business in light of the announcement from the Thai SEC regarding its strategy for 2025.

What Would A Unified License Accomplish?

Currently, Thailand’s securities and cryptocurrency markets operate under separate regulatory regimes. Securities trading is overseen by the Securities and Exchange Commission (SEC), while cryptocurrency exchanges are subject to different licensing requirements. The Finance Minister’s proposal aims to merge these systems into a single licensing framework, facilitating compliance for market participants.

This unified license would apply to both traditional securities and digital currencies, enhancing efficiency, fostering innovation, and potentially establishing Thailand as a regional fintech hub.

Thailand has been advancing in terms of crypto adoption and regulation.

🚨 Thailand’s SEC is making dramatic moves in the crypto landscape!
✅ Reviewing spot #Bitcoin ETF approvals for both retail and institutional investors.
✅ Considering the issuance of stablecoins backed by corporate and government bonds.
❌ Cracking down on Polymarket for illegal crypto gaming.
Crypto… pic.twitter.com/pqjodzzxsO
— Crypto Trennd (@CryptoTrennd) January 15, 2025

Recently, the Thai government initiated a pilot project on January 9, 2025, allowing tourists to spend Bitcoin and other cryptocurrencies in Phuket, one of its premier tourist destinations. Chunhavajira introduced this plan at a seminar organized by the Marketing Association of Thailand.

Former Thai PM Advocates For Crypto Legalization

Thaksin Shinawatra, Thailand’s former Prime Minister, recently conveyed his support for the potential of cryptocurrencies, advocating for increased openness in Thailand’s financial institutions towards digital currencies. He emphasized trends such as using Bitcoin for debt settlement and proposed the introduction of Real-World Asset (RWA) tokenization, which allows for the trading of digital tokens representing tangible assets.

Thaksin also discussed an initiative for a cryptocurrency sandbox project in Phuket, intending to manage Bitcoin transactions with state oversight to mitigate risks.

Explore: Thailand’s Former PM Advocates For Crypto Legalization

Key Takeaways

• Cryptocurrencies are gaining substantial ground in Thailand, reflecting increased adoption among individual investors and businesses.