Since 2018, Thailand has implemented digital asset laws to regulate the growing digital asset economy. In the same year, Baker McKenzie Bangkok released the first edition of a comprehensive guide, meticulously detailing the framework and provisions of these digital asset laws in Thailand. This guide serves as an essential resource for understanding the legal landscape surrounding digital assets in Thailand.
In 2023-2024, the crypto industry shifted from a largely unregulated space to a more structured environment as regulators around the world increased scrutiny over crypto activities and aimed to harmonize global regulations for digital asset businesses, which can be seen through the collaborations between countries to develop common standards, such as the European Union's Regulation on Markets in Crypto-assets (MiCAR).
In 2024, digital assets saw an upward trend in adoption and acceptance worldwide. For 2025, we anticipate the government launching an initiative or project to explore the use of blockchain technology. This will demonstrate the government's dedication to staying aligned with global trends and promoting innovation in the financial sector.
Building upon the aforementioned trends in the digital asset industry, the Office of the Securities and Exchange Commission (SEC) issued new regulations and held public hearings. These initiatives aim to enhance investor protection and strike a balance between supervising and fostering the development of the crypto industry.