After Hong Kong, the Securities and Exchange Commission of Thailand (SEC) is also considering the approval of spot Bitcoin ETFs in the Asian market.
New Spot Bitcoin ETFs in Asia?
The Securities and Exchange Commission of Thailand (SEC) is evaluating the approval of local spot Bitcoin ETFs.
According to a report from Bloomberg citing Pornanong Budsaratragoon, Secretary of the SEC, the agency is considering allowing direct exposure to Bitcoin for both private and institutional investors.
Thailand is no stranger to Bitcoin. In March 2024, the SEC approved the creation of investment products backed by U.S. spot ETFs. Following this, in June 2024, One Asset Management launched the first ETF backed by some of the leading U.S. ETFs.
However, these products are exclusively available to qualified investors and do not use Bitcoin directly as the underlying asset.
Budsaratragoon noted, “The country must move towards greater adoption by following global examples, offering investment products with appropriate safeguards for investors.”
Yes to Bitcoin but No to Unauthorized Gambling
For Polymarket, facing regulatory hurdles has become a common occurrence.
After the U.S., Singapore, Taiwan, and France, Thailand is also considering banning the leading betting platform in the sector.
In Thailand, with few exceptions, gambling is considered illegal. Polymarket risks being categorized as such, facing a potential ban in the country, as reported by local authorities.
Although both the approval of ETFs and the ban on Polymarket remain on paper for now, the country’s intentions are clear: adapt to global developments without missing out on major opportunities.
Report by Gue22 🚀⚡🔥 What are your thoughts?