Bangkok: The Cabinet has announced its support for digital assets, including the G-Token, paving the way for 100% electronic capital raising through equity and debt instruments.
According to Thai News Agency, Assoc. Prof. Dr. Pornanong Busaratrakul, Secretary-General of the SEC, revealed that the Cabinet meeting approved amendments to the draft Securities and Exchange Act. The meeting also acknowledged plans to draft secondary legislation, including the draft Futures Contracts Act, the draft Trust for Transactions in the Capital Market Act, and the draft Act to Amend the Digital Asset Business Act. These legislative measures, proposed by the Ministry of Finance, cover four key areas.
The new measures aim to facilitate electronic processes in the capital market, ensuring alignment with international standards for securities and futures business operations. They will introduce fees for business operations and professional services as specified by the SEC. Additionally, the amendments will enhance provisions for fines and improve witness protection during inspections and evidence collection. A significant focus is on supporting the NBTC's plan to raise funds using G-Token, a digital asset, to address a 5,000 million baht budget deficit in 2025. This approach will allow for secondary market trading, reduce operational costs, and increase retail investor access.
The SEC Office emphasizes that 100% electronic fundraising through equity and debt instruments is feasible, promoting convenience and efficiency through a document-free process. This initiative supports the comprehensive development of electronic assets across all stages, from fundraising to enforcement and debt payment. Following the approval of the draft Digital Asset Act by the House, the SEC Office will issue an announcement to enforce it as subsidiary law.
Assoc. Prof. Dr. Pornanong Busaratrakul stated, "I think that amending the law to make it easier for retail investors to transfer money in the secondary market, creating more liquidity in the money market and capital market, is considered a comprehensive infrastructure development. Entrepreneurs in all areas have been waiting for this for a long time because it is the starting point for the issuance of securities electronically, 100 percent."