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Thailand SEC Approves Bitcoin and Crypto Assets for Regulated Futures and Options Trading

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TLDR:

  • Thailand SEC authorizes Bitcoin and digital assets as underlyings for futures and options trading
  • New rules follow cabinet approval of amendments to the country’s long-standing Derivatives Act
  • Trading will occur only through licensed operators on the Thailand Futures Exchange platform
  • Spot crypto trading stays regulated, while payments using digital assets remain restricted

 

Thailand’s Securities and Exchange Commission has approved the use of Bitcoin and other digital assets in regulated derivatives markets.

Futures and options tied to crypto will trade on the Thailand Futures Exchange under licensed supervision. The move expands investor access while keeping activity inside formal rules. Spot trading remains limited to approved exchanges, and payment restrictions stay in place.

Crypto Assets Enter Thailand’s Derivatives Market

Under the revised Derivatives Act, digital assets may serve as underlying assets for futures, options, and related contracts. Bitcoin was listed among eligible instruments, alongside carbon credits and other approved assets. Trading will occur on the Thailand Futures Exchange.

The SEC stated that derivatives tied to crypto will follow the same oversight standards as traditional contracts. Operators must obtain licenses and meet reporting and compliance requirements. These controls aim to keep trading orderly and transparent.

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Thailand has regulated crypto markets since 2018. Spot trading remains allowed only through licensed exchanges. At the same time, authorities continue to prohibit the use of cryptocurrencies as everyday payment tools.

SEC Secretary-General Pornanong Budsaratragoon said the update expands investment choices and supports risk diversification. Investors can now access digital asset exposure through familiar financial products rather than direct holdings.

Framework Expands While Supervision Continues

The development gained attention on social media after Vivek Sen posted on X that Thailand was easing crypto trading rules. His post drew market interest and reflected the broader response from the crypto community.

Regulators clarified that the new structure builds on existing laws, not a full policy shift. The focus remains on controlled growth within regulated venues. Derivatives allow participation while exchanges maintain custody and compliance standards.

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The SEC also plans additional rules for operator licensing and supervision updates. Future steps may include crypto exchange-traded funds and tokenization initiatives. No timelines were provided for those measures.

Trading and settlement will follow established exchange procedures. Digital assets will function as approved underlyings rather than separate markets. Authorities said implementation will occur gradually to ensure stability.

Through these measures, Thailand expands access to crypto-based products while maintaining strict regulatory control.

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Crypto World

Fed’s Barr Calls for Balanced US Stablecoin Rules Under GENIUS Act

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Federal Reserve, Legislation, United States, Stablecoin, Genius Act

US Federal Reserve Governor Michael Barr said Tuesday that clearer US stablecoin rules could speed the market’s growth, but warned that regulators still need to address money laundering risks, bank run risks and consumer safeguards as they implement the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act.

Speaking at a Federalist Society event on stablecoin regulation, Barr said the law provides “needed clarity” for issuers, but that “a great deal will depend on how federal and state regulators implement the statute.”

Barr said stablecoins are still used mainly for crypto trading and as a US dollar store of value in some foreign markets, though they could also lower remittance costs, speed up trade finance processing and help firms manage treasury operations. He also highlighted the risk of bad actors buying stablecoins in secondary markets without identity checks, and said issuers may be tempted to stretch for yield in reserve assets in ways that undermine confidence during stress.

Barr’s speech also cast the stablecoin debate in historical terms. He said private money has a “long and painful history” when safeguards are weak, pointing to the Free Banking Era in the US, the Panic of 1907, money market fund stress during the global financial crisis and COVID-19 shock, and more recent stablecoin valuation pressure as reasons to be cautious about any asset marketed as redeemable at par on demand.

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Barr’s remarks come as US agencies move from legislation to rule-writing. The US Treasury Department opened a second round of public comment on implementing the GENIUS Act in September 2025, saying the law must be translated into rules that both encourage innovation and address illicit finance, consumer protections and financial stability risks.

Federal Reserve, Legislation, United States, Stablecoin, Genius Act
Brief Remarks on Stablecoins. Source: Federal Reserve

Fed Vice Chair for Supervision Michelle Bowman told lawmakers in February that banking regulators were already working on capital and liquidity rules for stablecoin issuers, and Federal Deposit Insurance Corporation chair Travis Hill said in March that the agency does not expect stablecoins to receive deposit insurance under the law.

Related: Who gets the yield? CLARITY Act becomes fight over onchain dollars

Barr warns GENIUS Act rollout will test stablecoin safeguards

Barr’s speech signals where the implementation fights may land. He flagged reserve asset rules, regulatory arbitrage, the scope of issuer activities beyond issuance, capital and liquidity requirements, Anti-Money Laundering (AML) checks and consumer protection standards as the key issues still to be settled.

The GENIUS Act, signed into law on July 18, 2025, created a federal framework for payment stablecoins in the United States. The law requires issuers to maintain one-to-one backing with reserve assets such as US dollars and Treasury bills, and is expected to take effect 18 months after signing or 120 days after final agency rules are completed.

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