Thailand Securities and Exchange Commission opened a public consultation on proposed principles and draft regulations for the offering of Government Token (G-Token) in the primary market and for operators providing G-Token services in the secondary market. The proposals would define the regulatory treatment of G-Tokens and set exemptions and conduct requirements for firms involved in subscription, trading and exchange. G-Tokens are described as digital tokens issued by the Ministry of Finance as a government borrowing tool under the Public Debt Management Act, giving holders rights to receive principal and interest on specified terms. The draft would exempt G-Token issuance from offering requirements such as filing and draft prospectus submission and the use of an approved ICO portal, and would introduce licensing exemptions so that digital asset dealers and exchanges providing G-Token services would not need a digital asset broker licence and securities companies would not need a digital asset business licence for G-Tokens (instead operating under rules for undertaking other businesses under the Securities and Exchange Act). Related rule changes cover customer advice and service standards, customer data collection and assessment, indicative price disclosure, and digital asset exchange requirements on contractual practices, disclosure and investment in G-Tokens. The consultation closes on 10 June 2025.

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