Thailand's Securities and Exchange Commission (SEC) may approve the listing bitcoin ETF on local stock exchanges, Bloomberg reports.
SEC Secretary General Pornanong Budsaratragun said the regulator is currently assessing whether retail and institutional investors will be able to trade spot Bitcoin -funds in the country.
Whether we like it or not, we must keep up with the growing adoption of cryptocurrencies around the world. We must adapt and provide our investors with more options to engage with crypto assets with proper protection,” Pornnanong said.
Back in June 2024, the Thai company One Asset Management presented a fund that offered local investors to invest in foreign BTC- ETF However, the Commission never gave permission for its launch.
That may be about to change, as Thailand looks to become a major player in the crypto world. According to Chainalysis’ 2024 Cryptocurrency Adoption Index, the country ranks 16th in terms of digital asset adoption among its citizens.
Interestingly, along with plans to make it easier for local investors to access Bitcoin, Thai authorities want to shut down the crypto forecasting platform polymarket According to Police Lieutenant General Trairong Pivpaen, due to their anonymity, such gambling sites make the work of law enforcement agencies difficult.
