According to local media, Thai financial regulators have adjusted regulations to allow professional investors to invest in U.S. spot Bitcoin exchange-traded funds (ETFs).
bangkok post reported Thailand’s Securities and Exchange Commission today allowed asset management firms to launch funds to invest in a U.S. spot Bitcoin ETF that will be available to institutional investors.
SEC Secretary-General Pornanong Budsaratragoon said in an interview with a local newspaper that there had been requests from asset management companies to allow investments in cryptocurrency assets. Budsaratragun emphasized, “However, due to the high risk, we must carefully consider whether to allow asset managers to directly invest in digital assets.”
The local regulator’s move came after the agency. said Last January, it was revealed that it was monitoring the development of overseas spot cryptocurrency ETFs, but had no plans to allow such products in Korea.
The SEC did not immediately respond to The Block’s request for comment.
last month, thailand treasury relaxed tax regulations For cryptocurrency trading by suspending the requirement to pay 7% VAT on profits from cryptocurrency trading. The duty-free period took effect from January 1, 2024, with no expiration date, the Bangkok Post reported at the time.
Thailand has attracted some global cryptocurrency exchanges such as Binance to set up shop in the country. Last January, Binance announced Gulf Binance, a joint venture between Binance and Thailand’s Gulf Innova. Cryptocurrency exchange service launched for the general public Afterwards in Thailand Invite-only test November.
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