The Securities and Exchange Commission of Thailand (SEC) is seeking public comment on proposed regulatory changes that would allow digital asset licensed companies to directly apply for derivatives licenses, removing the requirement to form separate entities.
The proposed changes would build on previous changes recognizing digital assets as eligible futures underlying assets, expanding the scope of the Thai derivatives market while introducing additional requirements for managing conflicts of interest and strengthening supervision.
The proposal could lower barriers for cryptocurrency firms to enter the derivatives market, allowing them to apply for licenses within existing entities rather than establishing separate companies, while bringing the activity under tighter regulatory oversight.
As stated by the regulator, the changes are aimed at providing investors with additional tools for managing collateral and portfolios, as well as adapting the standards of derivatives exchanges and clearing houses to international practices.
The proposed changes are open for public consultation until May 20, and the final framework will take input from industry participants.
Related: Thailand proposes tighter controls on entities financing crypto companies
Crypto derivatives are expanding as the U.S. moves closer to approval
Thailand’s proposal comes as cryptocurrency derivatives expand globally and momentum builds toward regulatory approval in the United States.
Blockchain.com on Tuesday introduced perpetual futures trading on its self-service wallet, allowing users to open leveraged positions using Bitcoin (BTC) as collateral without transferring funds to an exchange. Powered by Hyperliquid, this feature gives you access to over 190 markets with up to 40x leverage.
Other exchanges have taken a similar approach. Earlier this year, both Kraken and Coinbase launched perpetual stock-linked futures contracts for users outside the U.S. as part of a broader push for 24/7 multi-asset trading.
While most of these products are largely unavailable in the United States, that may change soon. In March, Michael Selig said the Commodity Futures Trading Commission was working to enable cryptocurrency perpetual futures contracts, adding that the agency could launch the products “in the next month or so.”
Meanwhile, exchanges appear to be preparing for potential approval. Last week, Kraken’s parent company, Payward, agreed to acquire Bitnomial, a U.S.-regulated derivatives marketplace, in a move aimed at expanding access to products, including futures, for U.S. customers.
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