Thailand's Securities and Exchange Commission is consulting on a minimum content framework for the knowledge tests that initial coin offering (ICO) portals must arrange before investors subscribe to digital tokens. The proposal would establish comparable baseline coverage across the industry. Existing rules, amended in 2025, exempt investors who have already passed the knowledge test from retaking it.
Tests would have to cover digital tokens and investor rights, blockchain technology and digital asset wallets. Required topics would also include sources of project information and investment decision-making, investment risks and limitations, and differences between primary and secondary markets. ICO portals could design questions in accordance with guidelines established by the Thai Digital Asset Operators Trade Association, provided they cover all minimum topics.