Thailand has taken a bold step towards embracing cryptocurrency investments by allowing professional investors to engage in U.S. spot Bitcoin (CRYPTO:BTC) exchange-traded funds (ETFs).
This regulatory update marks a significant pivot in the country's approach to digital assets, catering to the growing interest from institutional investors.
According to SEC Secretary-General Pornanong Budsaratragoon, this move comes in response to asset management firms' requests, underlining the regulatory body's cautious yet progressive stance on crypto assets.
This development is part of Thailand's broader strategy to adapt to the evolving financial landscape, evidenced by the recent suspension of the 7% value-added tax on crypto trading gains.
With global crypto exchanges like Binance expanding their footprint in Thailand, the country is positioning itself as a forward-thinking player in the global cryptocurrency market.