What happened
On 29 October 2026 the SEC published public hearing No. 73/2569. It carries eight draft notifications under the Derivatives Act B.E. 2546, plus the application and licence forms that go with them. Together they would let digital asset businesses already licensed by the SEC deal in derivatives on digital assets, and would set who may run a derivatives exchange or a clearing house for those contracts.
The drafts follow an earlier hearing on the principles, No. 18/2569, held from 20 April to 20 May 2026. Comments on the drafts close on 28 November 2026. The paper does not propose an effective date: the rules would apply from the day each notification comes into force.
What the drafts would open up
- Digital asset businesses can apply. A licensed digital asset business would be added to the types of applicant for a derivatives business licence (section 3.1.1).
- A licence limited to digital assets. The new licence would cover acting as a derivatives agent, dealer, adviser or fund manager, limited to contracts linked to digital assets (section 3.1.4).
- Fees. The application fee would be THB 30,000 and the licence fee THB 500,000, both waived for digital asset exchanges, brokers and dealers. Adding derivatives fund management or investment advice later would cost a further THB 1 million or THB 50,000 (section 3.1.4).
- More time to start. A licensee would have 270 days from the licence to start business, up from 180, with up to 120 days' extension on request (sections 3.1.1 and 3.1.4).
- Collateral is not custody. Holding digital assets as part of a derivatives service linked to digital assets, for example for physical delivery or when digital assets are posted as collateral, would not count as digital asset custodian business (section 3.1.5).
Venues and clearing
- Derivatives exchange. Where the applicant is a digital asset business, only digital asset exchanges and digital asset brokers could apply to run a derivatives exchange (section 3.2, item 1.2.1).
- Clearing house. An applicant to run a derivatives clearing house must not be a digital asset custodian or a securities depository. The paper ties this to the international principles for financial market infrastructures (section 3.2, item 1.2.2).
- Fees for venues. THB 30,000 per application and THB 5 million per licence, for an exchange and a clearing house alike (section 3.2, item 3).
- Accounts. Derivatives exchanges and clearing houses would prepare their financial statements under the Thai financial reporting standards for publicly accountable entities (section 3.3).
Where it sits on the map
Derivatives in Thailand sit under the Derivatives Act B.E. 2546, with the SEC as supervisor. These drafts bring contracts linked to digital assets into that framework and connect it to the digital asset licences the SEC already grants under the Emergency Decree on Digital Asset Businesses B.E. 2561.
Figure 8Thailand's financial regulatory landscape — the SEC pathThe regulator recommends; for most licence families the Minister of Finance signs. AMLO's duties and the PDPA apply across every row. As of October 2026. See the full map and table
What it means for you
- Pick your role. Agent, dealer, adviser, fund manager, exchange or clearing house: each sits on its own licence path, with its own conditions and fees.
- Map the collateral. If clients post digital assets as margin or take physical delivery, write down who holds the assets, in which wallets, and under which rules.
- Check the venue rules before you plan one. From the digital asset side only exchanges and brokers could apply to run a derivatives exchange, and a clearing house could not also be a digital asset custodian.
- Comment by 28 November. The SEC takes comments by email to the officers named in the hearing paper (the securities business policy team for the business licences, the market supervision team for exchanges and clearing houses) or by post. The SEC hotline is 1207.
These points are ComplyWise's reading of the drafts, not SEC guidance. The full map, the who-regulates-what table and every source are on the landscape page.
Frequently asked questions
- Are these rules in force?
- No. They are drafts in SEC public hearing No. 73/2569, published on 29 October 2026. Comments close on 28 November 2026 and no effective date has been set.
- Can a licensed digital asset business offer crypto derivatives under the drafts?
- It could apply for a derivatives business licence limited to contracts linked to digital assets, as an agent, dealer, adviser or fund manager. Until the rules are issued and a licence is granted, it cannot.
- Would holding clients' digital assets as margin need a custodian licence?
- Under the drafts, no. Holding digital assets as part of a derivatives service linked to digital assets, such as for physical delivery or as collateral, would not count as digital asset custodian business.
- Who could run a derivatives exchange or clearing house from the digital asset side?
- For an exchange, only digital asset exchanges and digital asset brokers. A clearing house applicant must not be a digital asset custodian or a securities depository.
- How do I send comments?
- By email to the SEC officers named in the hearing paper, or by post to the SEC, by 28 November 2026. The hearing page on the SEC website has the paper and the comment form.
Sources
- SEC public hearing paper No. 73/2569 (published 29 Oct 2026; comments by 28 Nov 2026): draft notifications on derivatives linked to digital assets, sections 3.1.1, 3.1.4, 3.1.5, 3.2 and 3.3 (Thai, PDF)
- SEC — public hearing page No. 73/2569, with the draft notifications and the comment form (Thai)
Accessed and last reviewed . Each figure and table cell is traced to a source above.