Thailand’s Securities and Exchange Commission (SEC) has just opened the floor to public opinion on a fresh set of criteria for crypto listing—an intriguing move that could reshape how exchanges operate in the region. As of today, June 20, 2025, the regulatory body has invited stakeholders to weigh in on proposed guidelines, which would allow exchanges to list their own tokens, albeit with a slew of stricter disclosure mandates.
New Criteria for Token Listings
Here’s where it gets interesting. The draft rules propose that exchanges can now list self-issued tokens, a first in Thailand’s regulatory landscape. However, this newfound freedom comes with a catch: exchanges must comply with heightened transparency standards. These include detailed disclosures about the token’s purpose, utility, and potential financial risks. According to sources close to the SEC, the aim is to protect consumers while still fostering innovation.
“The SEC seems to be walking a tightrope,” says crypto analyst Piya Charoen, “balancing the need for investor protection with the desire to keep Thailand competitive in the global crypto market.” It’s a delicate dance, and one that could set a precedent for other countries grappling with similar issues. This follows Thailand’s strategic moves, such as the approval of a five-year crypto tax exemption, to bolster its position as a global crypto hub.
Implications for the Crypto Market
So, what does this mean for the crypto community? For one, it could lead to a surge in locally issued tokens, giving Thai exchanges a unique edge. This is particularly significant as global crypto markets have recently stumbled, with investors becoming increasingly wary of international regulatory crackdowns.
Yet, skepticism remains. Some industry insiders question whether these rules will stifle smaller players who may lack the resources to meet stringent disclosure obligations. “The risk is that it could favor bigger exchanges at the expense of smaller, innovative startups,” notes Somchai Thammanit, a blockchain entrepreneur. “It’s a double-edged sword.”
Over the past few years, Thailand has been making headlines for its progressive stance on digital assets. Remember when the country introduced its first crypto tax regulations back in 2023? That was a game-changer, setting the stage for today’s developments. The SEC’s current push seems to be another step in a broader strategy to establish Thailand as a crypto-friendly nation, as evidenced by its exemption of crypto capital gains to attract global investors.
A Mixed Bag of Reactions
Reactions from the industry have been mixed. While some applaud the SEC’s proactive approach, others argue that the new rules could create a compliance nightmare. “On paper, it sounds great,” says Kritsada Nimsakul, a legal advisor specializing in fintech. “But in practice, these disclosure requirements might be more onerous than anticipated.”
Then there’s the question of enforcement. Can the SEC realistically monitor compliance across all exchanges? It’s a valid concern and one that could determine the success—or failure—of these new criteria.
Looking ahead, the public consultation period will run through July 2025, offering ample time for stakeholders to voice their concerns and suggestions. This open dialogue could very well help shape the final form of the regulations.
The Road Ahead
As the crypto world keeps its eyes on Thailand, the broader implications of these regulatory changes remain to be seen. Will other countries follow suit? Or will Thailand find itself as an outlier in a conservative regulatory environment? Only time will tell.
For now, the industry is left to ponder the ramifications. Could this spark a new wave of innovation? Or will it simply add another layer of complexity to an already intricate ecosystem? One thing’s for sure: the conversation is far from over. Thailand’s move to open up public consultation on crypto listing criteria has added another chapter to the ever-evolving story of digital assets. And it’s a story we’ll be following closely.
Source
This article is based on: SEC Thailand Opens Public Consultation on Crypto Listing Criteria
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
