Thailand SEC proposes simpler licensing route for crypto derivatives market

Thailand is moving to allow crypto firms to access derivatives licenses directly, easing entry into the market while tightening regulatory oversight.

According to the country’s Securities and Exchange Commission, the proposed rule changes would allow licensed digital asset businesses to apply for derivatives licences within their existing entities, removing the need to set up separate companies.

The regulator has opened the proposal for public consultation until May 20, with industry feedback expected to shape the final framework.

Such a move builds on earlier reforms that formally recognised digital assets as eligible underlying assets for futures and options contracts under Thailand’s Derivatives Act.

Cabinet approval in February had already cleared the way for cryptocurrencies like Bitcoin to be used in regulated derivatives markets, placing them alongside traditional financial instruments.

Allowing firms to operate under a single entity could reduce operational hurdles for crypto companies looking to expand into derivatives trading.

At the same time, the SEC plans to introduce stricter safeguards, including rules to manage conflicts of interest and enhance supervision across exchanges and clearinghouses.

Officials say the changes are designed to give investors access to more advanced tools.

Hedging and portfolio management options are expected to improve as derivatives products tied to digital assets become more widely available within a regulated environment.

Global derivatives push gains pace

Thailand’s proposal comes as crypto derivatives continue to expand worldwide, with several major platforms introducing new products ahead of possible regulatory approval in the United States.

Earlier this week, Blockchain.com rolled out perpetual futures trading within its self-custody wallet.

The feature, powered by Hyperliquid, allows users to open leveraged positions using Bitcoin as collateral without moving funds to a centralised exchange.

More than 190 markets are available, with leverage of up to 40x.

Other exchanges have taken similar steps.

Kraken and Coinbase have already introduced perpetual futures tied to equities for users outside the United States, part of a wider push toward round-the-clock, multi-asset trading.

Regulatory momentum in the US could accelerate this trend. In March, Commodity Futures Trading Commission official Michael Selig said the agency is working toward enabling crypto perpetual futures, noting it could act on the products “within the next month or so.”

Last week, Kraken’s parent company Payward agreed to acquire Bitnomial, a US-regulated derivatives venue, in a bid to expand access to futures products, including perpetual contracts, for American clients.

Within Thailand, these global developments sit alongside a steady policy transition that began years ago. Regulatory oversight first took shape with the 2018 Emergency Decree on Digital Asset Businesses, which gave the SEC authority over exchanges and token issuers.

Recent reforms have moved beyond compliance, bringing crypto deeper into the country’s capital markets through derivatives, planned ETFs, and tokenised investment products.

Officials have also pointed to investor demand for easier access.

“Ease of access” remains a key advantage of crypto ETFs, Deputy Secretary-General Jomkwan Kongsakul said earlier this year, as the SEC worked on guidelines to bring such products to market.

Taken together, the latest proposal signals a more integrated approach.

Crypto firms could soon operate across spot and derivatives markets under a unified structure, while regulators retain closer oversight as the product range expands.