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The post <a href="https://coinpedia.org/news/thailand-sec-amends-rules-private-funds-cleared-for-u-s-spot-bitcoin-etfs/">Thailand SEC Amends Rules: Private Funds Cleared for U.S. Spot Bitcoin ETFs</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
Thailand’s Securities and Exchange Commission (SEC), just made a big change. They said yes to private funds that can put money into spot Bitcoin ETFs (exchange-traded funds) that are sold on U.S. markets. However, this is only for the big players: institutional investors and people with a lot of money. After the U.S. SEC recently okayed the trading of these spot Bitcoin ETFs, it automatically turned them from being seen as digital assets to securities. This means companies dealing in securities in Thailand can now jump in on these investments. 
The Thai SEC, led by its secretary-general Pornanong Budsaratragoon, shared this update, explaining how it’s going to work. Only the firms that manage assets can start these private funds. The move is in line with the SEC Act, which allows trading of assets labeled as securities. 
Pornanong pointed out that these asset management firms have been interested in getting into the cryptocurrency industry, especially Bitcoin and its related ETFs. But she was clear they had to think long and hard about it because of the risks involved with direct investments in these assets. The existing rules didn’t even cover investments in digital asset ETFs, so they had to tweak some things to make this happen. Now, these selected investors can invest through private funds, but with limits. 
The timing is interesting. Bitcoin’s price is at an all-time high, making it a prime time for Thai investors to get involved. After momentarily grazing the $73,000 mark just a day ago, the king of cryptocurrencies saw a minor correction that has pulled its price down to just below $72,000 as of the time this article was being written.

Thailand SEC Amends Rules: Private Funds Cleared for U.S. Spot Bitcoin ETFs

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🗒 Daily Newsletter | Tuesday, March 12nd, 2024

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