In accordance with the plan to drive the Thai capital market towards “Digital Capital Market,” the Securities Exchanges Commission of Thailand is now studying some guidelines for regulating the Virtual Capital Market.
According to the SEC, the organization is currently studying the developments and changes of new technologies that affect the capital market in all dimensions in the Web 3.0 era in order to formulate guidelines and policies to regulate capital markets that are appropriate to support the Virtual Capital Market, which is expected to be completed in the fourth quarter of 2022.
The movement has resulted from the rapid development of technology, which has resulted in a change in method of conducting transactions in the capital market, particularly for online products and services, such as Blockchain technology and Web 3.0*, a distributed and decentralized technology that may have mass multiple applications in the future.
Ruenruedee Suwanmongkol, Secretary of the Securities and Exchange Commission, stated that as the body in charge of overseeing and developing the Thai capital market, the SEC must carefully study the developments and regulatory guidelines for the use of modern capital market technologies in order to identify trends and directions in the development and utilization of technology that may change the landscape of the Thai capital market in the future.
“This study is part of the SEC’s strategic plan 2022-2024 to move the Thai capital market toward a digital capital market.” It also aims to promote the Thai capital market’s sustainable growth so that it can compete with foreign capital markets and promote the country’s economic potential,” said Ruenruedee.
Meanwhile, the study will contribute to improving the supervision of digital asset businesses in order to increase investor protection, including the efficient use of technology in the Thai capital market, such as the development of Digital Infrastructure (DIF) to aid in funding efficiency and the use of technology to improve the detection of wrongdoing in the capital market. (E-enforcement).
Furthermore, the study will cover the developments of various technologies that may affect and disrupt the capital market in a variety of dimensions, such as capital market products, methods of fundraising for the business sector, and the nature of service and related business investor behavior.