Thai cabinet approves Electronic Securities Bill to create digital ecosystem for capital markets

The move is expected to help modernize the legal framework and promote the use of technology to make financial transactions more efficient and accessible for the public.

The Cabinet on Tuesday (June 10) approved the draft Electronic Securities Bill to support the issuance of assets through electronic platforms, aiming to facilitate the use of tokens and bonds in line with modern technology. This move is expected to help modernize the legal framework and promote the use of technology to make financial transactions more efficient and accessible for the public.



Pornanong Busaratrakul, Secretary-General of the Securities and Exchange Commission (SEC), revealed that this will lay the foundation for Thailand’s capital market to enter the digital era. The new bill will simplify the trading of securities, such as equity instruments, investment units, and debt instruments, making it easier for retail investors to buy and trade assets, and providing better protection for investors.

"The bill will make the entire securities trading process electronic, from recording and transferring data to collateral management. This will replace the old script-based system and the traditional use of paper certificates with an electronic format that can be used as the official record," she said.

The SEC will also implement secondary regulations that will enable the issuance of electronic securities in place of physical certificates. These measures are expected to be in force by 2025 after approval by the Parliament.

The Cabinet also approved the issuance of G-token bonds earlier, with the Public Debt Management Office (PDMO) responsible for issuing these tokens in a tokenization format. This digital asset approach will allow for greater flexibility in asset transfer, benefiting investors with a more streamlined process.

Furthermore, the SEC is preparing secondary regulations to support electronic securities, ensuring that digital assets replace traditional paper documents. They are collaborating with relevant agencies to set transaction standards and build infrastructure to facilitate digital capital markets.

This initiative aims to allow seamless electronic transactions from the issuance and sale of securities to transfers and collateral management. The SEC sees the adoption of innovation and technology as a key factor in advancing Thailand’s capital markets, increasing efficiency and fostering competition and innovation in the financial sector.The Finance Ministry announced that on February 14, 2023, the Cabinet approved the principles of four draft bills, which include:


The Securities and Exchange Act (Amendment No. ...) B.E. ...
The Futures Trading Act (Amendment No. ...) B.E. ...
The Trust for Capital Market Transactions Act (Amendment No. ...) B.E. ...
The Amendment to the Digital Asset Business Act B.E. 2561.


These bills were sent to the Office of the Council of State for review, with a key focus on incorporating appropriate technologies for capital market transactions, enhancing regulatory clarity, and improving the effectiveness of legal enforcement. The Securities and Exchange Act (Amendment No. ...) B.E. ... is the first to be amended on six key issues, including:

1. Adding provisions to support electronic processes in the capital market.

2. Revising the regulation of securities and futures trading businesses to align with international standards.

3. Introducing fees related to business operations, professional activities, or services, as approved by the SEC.

4. Adding provisions for fines and penalties for violations under the Securities and Exchange Act B.E. 2535.

5. Adding witness protection measures during investigation and evidence gathering by officials.

6. Granting authority to SEC officials to act as investigators and have investigative powers for certain offenses.

Additionally, during the review of these four draft bills, the SEC has expressed interest in creating a separate draft law specifically for electronic securities in order to implement it sooner.

These legislative changes aim to support the use of financial technology for product development and transactions in the capital market, facilitating more convenience and confidence for the public while enhancing the market’s transparency and efficiency.


Finance Ministry Encourages Public Investment

Pornchai Thirraveja, Director of the Fiscal Policy Office and spokesperson for the Finance Ministry, stated that the draft Securities and Exchange Act will promote the use of technology for creating products and conducting transactions in the capital market. This will also facilitate public participation in investments, improving quality of life and boosting competitiveness.

The draft electronic securities bill has already been reviewed by the Office of the Council of State. The key focus of the bill is to update provisions regarding the issuance of electronic securities, which are distinctly different from traditional paper-based securities, making the system clearer and more appropriate for modern needs.


G Token: A Game-Changer for Thailand's Digital Finance Sector

Pongsakorn Sutantayawalee, Chief Product Officer of Bitkub Online Co., Ltd., revealed that the Thai government is preparing to issue bonds in the form of G Token, marking a significant advancement. This will be the first time in the world that a government has issued digital tokens for transactions.

The G Token is expected to be launched in August 2025, and its main advantage is that once it is released, it will be available for trading in secondary markets.

In addition, this year, Thailand is expected to unveil the "Digital Baht" in the form of a digital token, making money transactions easier. This development is highly anticipated and considered a major step forward, he said.

Despite concerns that strict regulations may be seen as a limitation, those working in the industry view them as a strength. Clear guidelines will make it easier to invest and do business in Thailand, as businesses will know what is accepted and what is not. This is seen as a positive development for the country.

Furthermore, there is hope for good news this year regarding cryptocurrency taxation, with the expectation that the government may exempt profits from crypto transactions from tax, similar to how stocks listed on the Stock Exchange of Thailand (SET) are treated. Various parties are working to push for this reform.

Currently, Bitkub has approximately 5 million registered users and an average daily trading volume of around 2 billion baht on regular days. During bull runs, trading volume has reached as high as 18 billion baht per day.

(2025/06/11-00:00)