The consultation period comes as Thailand seeks to clarify regulations for the crypto industry.
Thailand’s Securities and Exchange Commission (SEC) has opened a period of consultation for feedback on rules that would allow exchanges or individuals connected to an exchange to issue utility tokens, according to a Friday statement.
Under the proposed rules, exchanges would have to disclose the names of anyone associated with the token issuers, which would assist the SEC in monitoring for signs of insider trading. The plan is part of Thailand’s efforts to establish a regulatory framework for the crypto industry.
The country announced in May plans to allow tourists to spend crypto via credit cards, just a few days before blocking crypto exchanges OKX and Bybit in the country over concerns about unlicensed operations and money laundering. A month later, it announced a waiver on capital gains tax on crypto sales made through licensed crypto service providers.
