The Thailand Securities & Exchange Commission (SEC) announced that its Board has approved proposed revisions to the net capital (NC) requirements for digital asset custodians and adjustments to risk charges for digital tokens that do not create custody risk of client assets. The package is intended to lower operating costs for domestic custodial wallet providers and improve NC efficiency for parts of the digital token ecosystem. Under the proposals, the NC rate for cold wallets used in digital asset custody services would be reduced from 2% to 1%, while the required proportion of client assets held in cold wallets would rise from at least 90% to 95%. The rules would also prohibit digital asset custodians from outsourcing client asset custody to third-party providers and update other requirements to align with those for other digital asset businesses that hold client assets. Separately, digital tokens meeting specified conditions would be exempt from the NC custody-risk requirement when stored by digital asset business operators in hot and cold wallets, and mandatory deposits with digital asset custodians would not be required. The SEC will draft an amending notification and conduct a public hearing with stakeholders before finalising the governing regulations.
Thailand Securities & Exchange Commission 2025-03-21
Thailand Securities & Exchange Commission approves net capital cut for digital asset custodians and custody-risk charge relief for qualifying tokens
The Thailand Securities & Exchange Commission approved revisions to net capital requirements for digital asset custodians to reduce costs and enhance efficiency. Changes include lowering the net capital rate for cold wallets from 2% to 1% and increasing client assets in cold wallets from 90% to 95%. The proposals prohibit outsourcing client asset custody and exempt certain digital tokens from custody-risk requirements.