The Thailand Securities and Exchange Commission has published a progress update on its Digital Asset Regulatory Sandbox, which is open to firms seeking to test innovative digital asset-related services. The SEC reported seven new applicants currently in discussion with the regulator, in addition to one applicant that qualified and was approved to participate in 2024. The Sandbox, launched in August 2024, has already been used by SCB 10X Co., Ltd. to test a digital wallet service intended to facilitate cryptocurrency exchanges for domestic use by foreign tourists, under both the SEC Sandbox and the Bank of Thailand’s Programmable Payment Sandbox. Of the seven current applicants, four are seeking to test under both the SEC and Bank of Thailand frameworks, covering programmable payment-enabled services linked to a cryptocurrency tourist wallet, cryptocurrency trading, and digital token trading, while three applicants seek testing under the SEC framework only. The SEC continues to invite interested parties to join the Sandbox and refers prospective participants to the project documentation for further details.

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