In the land of smiles, a silent revolution is brewing. The Thailand Securities and Exchange Commission (SEC) has unveiled ambitious plans to revamp its debt instrument trading system with Distributed Ledger Technology (DLT). Yes, my dear reader, the enchanting kingdom of Thailand is embracing the future!
Jomkwan Kongsakul, the ever-so-charming deputy secretary-general of the SEC, revealed that the regulator has already approved four digital token projects and is evaluating two more. Green tokens and investment-driven initiatives, you say? Intriguing, isn’t it?
Bonds and Blockchain: A Match Made in Heaven? 💍
Traditionally, purchasing bonds from the primary market is as slow as watching paint dry. But, fret not! The regulator plans to streamline the process, making it as swift as a Thai boxer’s punch. DLT is expected to bring efficiency and address barriers in the capital market.
The SEC dreams of a unified digital bond trading system, covering settlement, trading, investor registration, and return payments. And, they assure us, competition will remain open. How delightfully capitalistic!
As for existing financial products, fear not! They will be transformed into digital counterparts, promoting fractional trading and boosting liquidity. Real-time transactions and reduced settlement issues? Marvellous!
Crypto Payments: Phuket’s Grand Experiment 🌴
In the tropical paradise of Phuket, a pilot scheme for crypto payments is being considered. The goal? To allow tourists to register their digital assets on local exchanges for property purchases and payments. Imagine buying a coconut with Bitcoin! How delightfully modern!
However, challenges remain. The Bank of Thailand opposes decentralized assets, foreigners are restricted from accessing local exchanges, and upcoming tax reforms could impact foreign investments. But, as the Thai proverb goes, “The elephant in the battle does not fear the dog’s bark.”
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2025-02-05 01:39