Thailand's SEC Considers Spot Bitcoin ETFs Amid Competition with Singapore and Hong Kong

Jan 15, 2025, 09:49 AM

Thailand's Securities and Exchange Commission (SEC) is considering the approval of spot Bitcoin exchange-traded funds (ETFs) to be listed on local exchanges, marking a significant step towards establishing the country as a digital-assets hub. This move is part of Thailand's strategy to compete with Singapore and Hong Kong in becoming Asia's leading crypto hub. The initiative aims to provide direct Bitcoin exposure to both retail and institutional investors, potentially enhancing the country's appeal in the global cryptocurrency market. Additionally, the SEC is exploring the integration of stablecoins and crypto payments in Phuket, alongside efforts to regulate online gambling to unlock $4 billion in untapped tax revenue, further boosting crypto tourism.