The Thailand Securities & Exchange Commission has issued 13 notifications amending the regulatory framework for funds investing in digital assets, aiming to promote fair competition across business types and give asset management companies more flexibility in managing portfolios. The changes expand eligible assets and set differentiated limits for crypto asset exposure based on investor type, and took effect on 16 January 2025. Investment Tokens are added as an eligible investment asset, with investment limits aligned to those for transferable securities such as stocks and bonds due to similar characteristics and risks. Funds targeting ultra-high net worth investors may invest in crypto ETFs without an investment limit, while any direct or derivatives-based crypto exposure must be capped at 20 percent of net asset value. For retail funds, total crypto asset exposure via ETFs or foreign mutual funds is capped at 5 percent of net asset value. The amendments also update requirements to support fund establishment and management, including custody, disclosure, advertising, and adjustments to suitability testing to cover crypto asset investment. Funds operating under the pre-amendment rules must comply with the new requirements within 90 days from the effective date.
Thailand Securities & Exchange Commission 2025-01-16
Thailand Securities & Exchange Commission amends digital-asset fund rules adding investment tokens and setting 20% and 5% crypto exposure caps
The Thailand Securities & Exchange Commission has amended regulations for funds investing in digital assets, effective 16 January 2025, to enhance competition and portfolio management flexibility. Key changes include expanded eligible assets, differentiated crypto asset exposure limits based on investor type, and updated requirements for fund establishment and management. Investment Tokens are now eligible, with limits aligned to stocks and bonds, while crypto exposure for retail funds is capped at 5 percent of net asset value.