Thailand is making significant strides in integrating digital assets into its financial landscape. The country’s Cabinet has approved a proposal to allow cryptocurrencies and tokens as underlying assets in derivatives and capital markets. This move signals a broader acceptance of digital assets as a legitimate asset class, with plans for Bitcoin ETFs and futures trading to be rolled out.
Key Takeaways
- Thailand is set to allow digital assets as underlying assets for derivatives and capital markets.
- New regulations for Bitcoin and crypto Exchange-Traded Funds (ETFs) are being finalized.
- The country aims to become a leading digital asset hub in Southeast Asia.
- Crypto futures trading is planned on the Thailand Futures Exchange (TFEX).
Regulatory Advancements for Digital Assets
Thailand’s Securities and Exchange Commission (SEC) is spearheading the integration of digital assets. The Derivatives Trading Act is being amended to formally recognize digital assets as reference assets for derivatives contracts. This will enable licensed operators to offer crypto-linked products such as futures and options under regulatory supervision. The SEC is also developing detailed rules for derivatives brokers, exchanges, and clearinghouses, working closely with the Thailand Futures Exchange (TFEX) to finalize contract specifications.
Bitcoin ETFs and Investment Products
In a significant move towards becoming an Asian crypto hub, Thailand is finalizing rules for Bitcoin and crypto ETFs, futures trading, and tokenized investment products. The SEC has approved crypto ETFs in principle and is establishing operational guidelines covering custody, liquidity, and collaboration between asset managers and licensed exchanges. Investors may eventually be able to allocate up to 4-5% of their diversified portfolios to digital assets through domestic ETFs trading on the Stock Exchange of Thailand, offering exposure without direct crypto ownership. The country approved its first spot Bitcoin ETF in 2024 and plans to expand to other cryptocurrencies like Ether and diversified baskets.
Expanding the Derivatives Market
Beyond cryptocurrencies, Thailand is also reclassifying carbon credits as "goods" to facilitate physically delivered carbon credit futures, aligning with climate change objectives. The SEC is also advancing plans for crypto futures trading on TFEX under the Futures Trading Act. Regulators intend to formally recognize digital assets as an underlying asset class under the Derivatives Act, providing a clearer legal foundation for crypto-linked derivatives. Market-making mechanisms are planned for 2026 to support liquidity and price stability.
Broader Digital Finance Initiatives
Thailand’s regulatory push extends to tokenized real-world assets (RWAs), including tokenized bonds and securities. These efforts align with global trends in asset tokenization and could eventually include baht-backed stablecoins. In 2025, Thailand approved U.S. dollar stablecoins for local trading. Furthermore, Thailand eliminated capital gains tax on crypto trading from January 1, 2025, through December 31, 2029, further incentivizing digital asset adoption.
Sources
- Thailand Clears Path For Crypto In Derivatives Market, Bitcoin Magazine.
- Thailand Finalizes Rules For Bitcoin ETFs In Early-2026 Push, Bitcoin Magazine.