The Thailand Securities and Exchange Commission has proposed amending rules for intermediaries that facilitate client investment in overseas digital asset derivatives. Retail, high net worth and ultra high net worth investors would be limited to products whose key characteristics and conditions are consistent with digital asset derivatives traded in Thailand, while institutional investors could access products outside those parameters. For the three restricted investor categories, relevant characteristics would include the underlying digital assets, contract maturity, leverage and delivery or settlement methods. Products would also have to trade on a derivatives exchange using central counterparty clearing and supervised by a regulatory authority that is a Signatory A to the International Organization of Securities Commissions Multilateral Memorandum of Understanding or a member of the World Federation of Exchanges. The proposal follows the SEC Board’s earlier designation of cryptocurrencies and digital tokens as permitted underlying products and variables under the Derivatives Act.

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