ETHERLive
ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.

---

24hr ---
--%
RESOURCES

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More
SUBMIT

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story

Explanation

Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
---
--%
Home
News
Etherlive
Ether Price Analysis
Resources
Contact Us

Thailand Officials Approve Blockchain-Based Securities Trades

By

Nathan

Graham

WriterETHNews.com

Securities could be tokenized and issued on a blockchain platform this year.

The National Legislative Assembly of Thailand has approved an amendment to the Securities and Exchange Act that may allow for stocks and bonds to be tokenized and issued on a blockchain platform, according to a February 22 report from The Bangkok Post.

Prior to this amendment, the Securities and Exchange Act only allowed the Thailand Securities Depository Co Ltd. – a subsidiary of Thailand's stock exchange – to trade and hold "scripless securities." (This refers to securities without a physical certificate) Now, any businesses that wish to operate a digital token or securities depository will be able to "apply for depository licenses."

The amended act will also allow companies undergoing fundraising efforts such as initial coin offerings (ICOs) and security token offerings (STOs) to issue tokenized securities to their investors over a blockchain platform. However, an STO may be regulated under the digital asset royal decree based on whether the token falls under the decree's definition of a security or digital token.

Per the Post, the Thailand SEC has already amended the act and will provide further guidance and regulations in the coming months. "The implementation of the tokenisation platform is expected to become effective this year," said Thailand SEC deputy secretary-general Tipsuda Thavaramara.

This move is the latest in Thailand's push to incorporate cryptocurrency and blockchain technology into its financial industry. In June 2018, the Bank of Thailand revealed it had been researching the benefits blockchain technology could bring to the country's banking industry. In August 2018, the central bank announced plans to develop and experiment with a prototype of a central bank digital currency. And just last month, Thailand's Ministry of Finance granted digital asset business licenses to four digital currency exchanges. 

Nathan Graham

Nathan Graham lives in Sparks, Nevada, with his wife, Beth, and dog, Kyia. Nathan has a passion for new technology, grant writing, and short stories. He spends his time rafting the American River, playing video games, and writing.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest NLA, Securities and Exchange Act or other Ethereum law and legislation news.