Thailand’s Securities and Exchange Commission (SEC) is evaluating the introduction of spot Bitcoin exchange-traded funds (ETFs) to local exchanges, aiming to provide both retail and institutional investors with direct access to cryptocurrency investments. SEC Secretary-General Pornanong Budsaratragoon emphasized the necessity for adaptation, stating, “We have to adapt and ensure that our investors have more options in crypto assets with proper protection.”
In addition to considering Bitcoin ETFs, the SEC is exploring the possibility of permitting companies with strong credit ratings to issue stablecoins backed by corporate bonds. This initiative seeks to broaden access to debt markets and enhance financial inclusivity. Concurrently, Thaksin Shinawatra, the de facto leader of the ruling Pheu Thai Party, has proposed the issuance of government bond-backed stablecoins and the establishment of a Bitcoin sandbox in Phuket to facilitate tourism-related transactions.
On the enforcement front, Thailand’s Technology Crime Suppression Division (TCSD) has announced plans to propose the closure of Polymarket, a cryptocurrency-based prediction market. Authorities have classified the platform’s activities as illegal online gambling, citing the use of cryptocurrency for trading and betting as a violation of Thai law. Police Lieutenant General Trairong Phiwpaen highlighted the challenges posed by crypto gambling, particularly due to the anonymity and cross-border nature of blockchain transactions.
This move aligns with actions taken by other countries in the region. Notably, Singapore blocked access to Polymarket on January 12 as part of its crackdown on unlicensed gambling platforms. Despite these restrictions, Polymarket continues to operate, with significant trading volumes reported in early 2025.
