Thailand Moves to Regulate Token Offerings, Cracks Down on Insider Risks

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Thailand’s SEC is gathering feedback on new rules that would let crypto exchanges and their affiliates issue utility tokens—but with strict disclosure requirements to prevent insider trading.

Under the proposal, exchanges must publicly name individuals tied to token issuers, giving regulators clearer oversight. The move signals Thailand’s attempt to balance crypto innovation with investor protection, following recent policy swings.

Just months ago, Thailand greenlit crypto spending for tourists before abruptly blocking OKX and Bybit over licensing concerns. It later waived capital gains taxes for licensed crypto transactions.

The SEC’s focus on transparency follows a 2022 scandal where Bitkub’s CTO was accused of front-running token purchases using confidential deal information.