Thailand Allows Retail Investments in Infrastructure-backed Tokens

Thailand

In Thailand, the rules have changed, and retail investors can now invest more than the previous limit of 300,000 baht (about $8,500) in digital tokens backed by real estate or infrastructure. This update provides retail investors with increased opportunities to engage with asset-backed tokens.

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Thailand’s Securities and Exchange Commission (TSEC) has removed restrictions for retail investors looking to buy digital tokens linked to real estate or infrastructure projects. The previous limit of 300,000 baht (around $8,500) on investments in these tokens by retail investors no longer applies. This change offers retail investors more flexibility and opportunities in participating in tokens associated with real estate or infrastructure developments.



Thailand’s TSEC Lifts Investment Limit for Retail Investors in REITs

The Securities and Exchange Commission of Thailand (TSEC) has made a significant regulatory update by eliminating the investment limit for retail investors interested in real estate and infrastructure-backed digital tokens, known as REITs. This change, officially announced in the Royal Gazette on January 16, 2024, reflects a more open and inclusive approach, granting retail investors increased flexibility to engage in the growing REIT market.

The decision to remove the investment cap is in line with the positive momentum observed in Thailand’s cryptocurrency market. Notably, in September 2023, KBank, the country’s largest bank, demonstrated its confidence in digital assets by acquiring Satang, a cryptocurrency exchange business. This strategic move signifies the increasing acceptance and integration of digital assets within Thailand’s financial system.

Thailand Relaxes Digital Token Rules and Prepares for Wallet Distribution

Thailand’s regulatory landscape for digital tokens undergoes further transformation as new rules permit the creation of local custodial wallets, secure digital storage solutions for holding digital assets. These custodial wallets can operate within Thailand under the management of publicly traded companies with expertise in digital asset storage. The issuance of permissions for digital asset service providers (DASPs) to venture into new business lines will fall under the responsibility of the Securities and Exchange Commission of Thailand (TSEC).

This regulatory shift aligns with the government’s broader vision and coincides with the appointment of real estate tycoon Srettha Thavisin as Thailand’s prime minister in August 2023. Thavisin, the former CEO of Sansiri, a major real estate developer in Thailand, is actively involved in digital asset investments and has introduced his own digital token, the SiriHub Token.

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In addition to these regulatory changes, the Thai government unveils plans to distribute 10,000 baht ($274) to citizens aged 16 and above through a network of digital wallets. This initiative, designed to stimulate the economy and enhance digital literacy, has faced delays since Thavisin’s election.

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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

 

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