Thai SEC Opens Consultation on Utility Token Issuance by Exchanges
The Thailand Securities and Exchange Commission (SEC) has initiated a consultation for new rules regarding exchanges issuing their own utility tokens. Key points include:
- Exchanges may issue utility tokens for blockchain transactions, with disclosures required about related parties to monitor insider trading.
- The SEC aims to balance innovation with the prevention of illicit activities.
- Starting June 28, citizens will be restricted from accessing certain crypto exchanges, including Bybit and OKX, due to licensing violations.
- In March, the SEC approved Tether's USDT and Circle's USDC for trading, expanding beyond previously approved tokens such as BTC, ETH, and others.
- The consultation period for feedback on the proposed rules will conclude on July 21.