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Rabat – Thailand has taken a significant step toward integrating digital assets into its mainstream financial system after the cabinet approved a proposal allowing cryptocurrencies to be used as underlying assets in the country’s derivatives market.
The decision authorizes amendments to the Derivatives Act so that digital assets, including cryptocurrencies and digital tokens, can be formally recognized as reference assets for derivative products.
The move is intended to modernize Thailand’s capital markets in line with international standards while strengthening regulatory oversight and investor protection, as well as firmly anchoring crypto within the country’s regulated financial architecture.
The Securities and Exchange Commission (SEC) will draft detailed rules, regulatory frameworks and licensing requirements for businesses seeking to offer crypto-related derivatives.
The regulator is also reviewing licensing structures for brokers, exchanges, and clearinghouses to ensure they are appropriate for products linked to digital assets.
SEC secretary-general Pornanong Budsaratragoon said expanding the list of permissible underlying assets will support emerging asset classes and allow digital assets to serve as reference products in the derivatives market.
She said the change will promote greater market inclusiveness, enhance portfolio diversification, and improve risk management tools for investors.
Under the revised framework, licensed digital asset business operators will be able to offer derivatives contracts that reference cryptocurrencies, subject to supervisory requirements.
In parallel, the SEC is working with Thailand Futures Exchange to develop contract specifications for digital asset-linked derivatives so that product design reflects the characteristics and risks associated with cryptocurrencies.
Read also: Bitcoin Rebounds above $71,000 After Brief Dip
The crypto push extends beyond derivatives. The SEC’s 2026 roadmap includes plans to roll out cryptocurrency exchange-traded funds as part of efforts to position Thailand as a regional digital asset trading hub.
Deputy secretary-general Jomkwan Kongsakul said the commission plans to introduce crypto ETFs early this year, providing investors with regulated exposure to digital assets through the stock market.
Digital assets are also being integrated into the broader economy. Deputy Prime Minister Pichai Chunhavajira last year introduced the TouristDigiPay initiative, which would allow foreign visitors to convert digital assets into local currency to support spending in Thailand’s tourism sector.
In addition to digital assets, the amendments will reclassify carbon credits as goods rather than variables, paving the way for physically delivered carbon credit futures alongside cash-settled contracts.
Carbon credits are tradable certificates that represent the reduction or removal of one metric ton of carbon dioxide or its equivalent in greenhouse gas emissions, typically generated through projects such as renewable energy or forest conservation.
The change aligns with the draft Climate Change Act and Thailand’s long-term carbon neutrality objectives, extending the scope of the derivatives market to another emerging asset class.
