Thailand SEC Eyes New Era with Tokenized Securities System

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# 🌟 Transforming Finances: The SEC’s Tokenized Trading Revolution in Thailand! 🌟

Thailand SEC Eyes New Era with Tokenized Securities System

In a genteel twist of fate, Thailand’s Securities and Exchange Commission (SEC) is preparing to revolutionize its capital markets with the debut of a tokenized securities trading system. According to reports from the esteemed Bangkok Post, the newfangled platform shall employ blockchain technology to refresh trading processes, enhancing market transparency, and affording investors a speedier, more efficient means of buying and selling digital representations of conventional assets.

Those purveyors of securities services will be enabled to facilitate the sale of these tokens to their clientele, naturally under the ever-watchful eye of regulatory oversight.

Digital Twin Products and Enhanced Liquidity

Jomkwan Kongsakul, the respected deputy secretary-general of the SEC, has affirmed that while this new tokenization platform shall soon emerge, traditional securities will not vanish. Oh no, indeed not! They shall be transformed into digital twin products, fit to be traded and transferred on a distributed ledger technology (DLT) system. How frightfully modern!

This transformation is anticipated to enable fractional trading at lower prices, increase liquidity through a more substantial pool of participants, provide real-time trading, and notably reduce settlement quandaries. Four digital token ventures have already received the market watchdog’s blessing, with two further propositions awaiting incorporation.

Moreover, the regulator collaborates with five corporate entities, engaging in preliminary consultations to explore opportunities in the whimsically dubbed soft power tokens and innovative green token fundraising solutions. How delightfully forward-thinking!

The SEC posits that it is high time for Thailand to embark upon the digital economy, spurred by its burgeoning acceptance worldwide. Kongsakul mentioned, with no small amount of pride, that token investments have recently garnered interest, and the nation is preparing to adeptly position its capital market for forthcoming prosperity.

She further disclosed that the SEC shall unveil new regulations to facilitate the issuance of electronic securities and online debenture acquisitions. “The SEC is leveraging technology to enhance efficiency in the capital market by promoting an electronic securities ecosystem. In the future, new regulations will be launched to facilitate the issuance of electronic securities and online purchases of debentures,” she remarked, with a rather knowing smile.

The regulator envisions a thoroughly digitized bond trading system, encompassing primary and secondary markets — settlement, trading, investor registration, and return payments included. How very comprehensive!

Interoperability and Future Blockchain Infrastructure

Upon the advent of the blockchain-based system, firms possessing their DLT infrastructure may indeed develop independent chains under a unified standard, provided interoperability is maintained.

Firms bereft of DLT capabilities could acquire access to the SEC’s public ledger for a fee to construct their chains using the same standard, ensuring seamless integration across the market. Kongsakul alluded to a future ripe with multiple chains for trade, though prudently noted that only two types of securities issuance shall exist: digital-native products borne of DLT and those converted into electronic securities.

Alongside the tokenization platform, the dutiful regulator is developing the “SEC Open API Data Platform,” offering investors enriched data analysis tools, ultimately aiding better investment decisions for all listed companies.

Meanwhile, as Thailand gradually morphs into a crypto-friendly utopia, digital assets are not yet wholly acknowledged for payments. Presently, the country forbids the use of cryptocurrencies such as Bitcoin and Ethereum for transactions. How terribly restrictive! 🤷‍♀️

Nonetheless, in an admirable bid to further embrace digital sophistication, Thailand plans to unveil a Bitcoin payment sandbox on the splendid tourist island of Phuket later this year. Alas, the precise timeline remains as elusive as ever.

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2025-02-03 13:08