The Thailand Securities and Exchange Commission has opened a consultation on proposed revisions to net capital requirements and digital asset custody regulations for digital asset business operators, alongside changes to the capital framework for securities and derivatives firms. The package is designed to support more local trading and custody activity, strengthen links among domestic operators, reduce reliance on foreign service providers, and make capital requirements better reflect the risks of different business models. For digital asset operators that must maintain capital under the NC-1 approach, the proposed principles introduce counterparty risk, settlement risk and fund management risk. The revisions would also give digital asset exchanges and brokers more operational flexibility, while recalibrating net capital requirements for digital asset custodians to make them proportionate to the risks of custody activities. For securities and derivatives firms, the changes would better align capital rules with actual risks, including where traditional and digital asset businesses are conducted within the same entity. The package also revises capital thresholds that trigger business cessation in those mixed-activity entities, broadens the definition of derivatives business operators, and updates net capital reporting forms and explanatory notes. The consultation follows approval of the revision principles by the SEC Board and runs until 25 June 2026.

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