According to Bloomberg, Thailand’s SEC is considering approving the first Bitcoin ETF. President Trump’s pro-cryptocurrency stance may have worked in favor of Thailand’s cryptocurrency sector.
The cryptocurrency industry has come a long way since the birth of Bitcoin. The crypto industry has grown from a simple technology development to a fintech sector of its own, attracting attention from all over the world. It is currently trying to become one of the important parts of the global financial industry.
According to a recent news report from Bloomberg, the Securities and Exchange Commission of Thailand is considering approving the country’s first Bitcoin ETF. In June 2024, One Asset Management launched a fund of funds that allows professionals and institutional investors to trade overseas Bitcoin ETFs within the country. However, the country does not yet allow exchange-traded funds with direct investments in cryptocurrencies.
Thailand gains an advantage in the global cryptocurrency race
Thai SEC Director-General Polnanon Budsaratragon announced earlier today the country’s plans to approve the country’s first Bitcoin ETF. Polnanon also noted that the SEC is considering allowing local companies to issue stablecoins backed by corporate bonds. Regarding the same, she said:
“Like it or not, we need to see greater adoption of cryptocurrencies around the world. We need to adapt and give investors more choice in crypto assets with adequate protection. We need to be able to secure it.”
US President Donald Trump’s pro-cryptocurrency stance has led several countries around the world, including Thailand, to focus on regulating and implementing virtual currencies. When President Trump pledged to make the United States the crypto capital of the world, he indirectly encouraged global regulators to focus on the adoption and development of the crypto industry.
Based on Thai SEC data, the country is seeing an increase in crypto trading activity. The number of active crypto trading accounts reached 270,000 in November 2024, the highest since 2023. To stay ahead of global competition, Thailand plans to make Bitcoin ETFs accessible to domestic investors.
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