Thailand SEC Proposes Utility Token Rules to Boost Transparency
On June 21, 2025, Thailand’s Securities and Exchange Commission (SEC) launched a public consultation on draft regulations governing utility token issuance and exchange listings. The proposals mandate full disclosure of all individuals with financial or control interests in any token project to curb insider trading and enhance market transparency. Licensed exchanges would be allowed to list their own or affiliated utility tokens and must use warning symbols in electronic reports to highlight potential risks. Existing tokens must comply within 90 days of enactment. Security tokens are excluded, and final rules will reflect stakeholder feedback. This move follows the 2022 insider trading case involving Bitkub’s CTO, the recent blocking of unlicensed platforms OKX and Bybit, and incentives such as crypto credit-card spending for tourists and a waived capital gains tax on licensed providers from 2025 to 2029.
Neutral
The proposed Thailand SEC utility token regulation aims to increase market transparency and reduce insider trading risks. While clearer rules and disclosure requirements can boost long-term confidence and stability, they are unlikely to trigger immediate price movements. Traders may welcome the enhanced safeguards, but the consultation phase means final impacts remain uncertain, resulting in a neutral near-term outlook.