Thailand’s Perspective on Digital Securities – A Recap from DS Summit 2019

A Strong Kickoff to Digital Assets within The Kingdom of Thailand

Today marks the first major STO conference in Thailand.

As a quick regulatory re-cap, on February 8th the National Legislative Assembly approved scriptless securities issuance and tokenized securities via blockchain technology.

With Security token offerings gearing for take-off, DS Summit 2019 gathered over 300 leaders of Thailand’s financial industry to share and discuss these new exciting prospects. STO Search & Filter CEO / Founder, Sam Choksi dives in the digital asset trenches to provide insights towards the future of STOs and digital securities in Thailand.

With a full house, it is clear and undeniable the interest for digital innovation is a top priority for Thailand regulators, investors, and residents. Today’s summit included representatives from VC firms, issuance and protocol platforms, banking and financial institutions, legal, regulatory and others; This event is a milestone in the Kingdom to be remembered.

Keynotes and panelists included representatives from Elevated Returns, Seamico, Tezos, Astronaut Capital, TrustedIn Trading, Blockrake, HODL.vc, Hybrid360, KPMG Israel, Chainfund Capital, CLSA Securities, Krungsri Finnovate, AlphaPoint, Thammasat, Baker McKenzie, Association of Securities Companies, Securitize, Digital Asset Capital Management, Ditto Music and our very own Mrs. Archari Suppiroj, Director of Fintech Department of SEC Thailand.

The Launch of a New Joint Venture: Elevated Returns x Seamico Thailand x Tezos

Elevated Returns (ER) has partnered with Thai Financial firm Seamico Securities Plc and blockchain platform Tezos to expand into Thailand. It is targeting US$250 million in transactions this year, with US$100 million to take place in Thailand.

The partnership effort also builds local capabilities in Thailand, with Tezos Southeast Asia working with Chulalongkorn University to develop the first blockchain education and research program in Thailand.

Elevated Returns and Seamico Securities together have created and officially launched SE Digital which will offer issuance, exchange, and asset management services within The Kingdom.

Digital Securities Regulations from The SEC in Thailand.

The much anticipated regulatory framework panel discussion inclusive of SEC Director of Fintech Department, Mrs. Archari Suppiroj fell on eager ears. Thailand’s approach to digital asset innovation is unlike other jurisdictions because of such a progressive Securities and Exchange Commission.

While other countries are amending their current outdated securities regulations, Thailand’s SEC is implementing an entirely new law for digital assets. They intend to foster development while eradicating unclear rules to ensure players with ideas can come forward and “do this for real in Thailand.”

Mrs. Suppiroj also states “We are learning, and we are learning with you; come talk to us to see how to facilitate your ideas.” This open door regulatory policy is the mindset needed for Thai citizens and residents to step forward and present their developments or concerns without a worry.

This year, the Thai SEC is pushing forward with three new goals and ideologies for sustainable digital securities regulation.

• 1. Create clarity in the regulatory framework for digital assets
  2. Open the space to existing and new players with ideas
  3. Encouragement of information flow to keep up with the pace of technology (Crowd-wisdom)

It was reassured that the SEC is about half-way through preparing these regulations; The general consensus, however, was that it would be about 6 – 12 months until we see the true strength of Thailand through innovative use cases of STOs and digital asset tokenization.

It’s going to be an explosive year for STOs globally, but certainly a revolutionary one for Thailand.

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The event was hosted jointly by Elevated Returns, Seamico, and Tezos at the J.W. Marriott Hotel in Bangkok