Thailand officially greenlights crypto as an underlying asset for derivatives
Thailand’s government has approved a move to recognize cryptocurrencies as underlying assets under the Derivatives Trading Act, clearing the way for regulated crypto futures and options in the country.
Key developments
- On Feb. 10 the cabinet approved the Finance Ministry’s proposal—originally put forward by the Securities and Exchange Commission (SEC) in early 2026—to classify cryptocurrencies such as Bitcoin as “permissible goods and variables.” This designation enables them to serve as the basis for regulated futures and options contracts.
- SEC secretary-general Pornanong Budsaratragoon said the commission will now draft specific regulatory requirements for market participants. That process will include:
- Amending derivatives business licenses so existing digital-asset operators can offer crypto-linked contracts.
- Establishing strict contract specifications to help mitigate crypto’s characteristic price volatility.
- Reviewing broker and clearing-house licensing frameworks to ensure they can support these new products.
Market rollout and products
- The SEC will work with the Thailand Futures Exchange to launch the country’s first suite of crypto-linked derivatives, including Bitcoin futures.
- Carbon credits are also being reclassified from “goods” to “variables,” paving the way for physically delivered carbon credit futures in Thailand.
Wider strategy and timeline
- The SEC’s 2026 roadmap further targets the rollout of crypto exchange-traded funds (ETFs). Deputy SEC secretary-general Jomkwan Kongsakul has said the commission plans to launch crypto ETFs in Thailand “early this year” (early 2026).
- Regulators frame the changes as measures to increase market inclusiveness, broaden investor options and improve risk-management tools for participants.
Broader context
- The reforms form part of a larger push to position Thailand as a regional crypto trading hub. The government is also exploring tourism-focused crypto use: the TouristDigiPay initiative, introduced by Deputy Prime Minister Pichai Chunhavajira, aims to let visitors convert digital assets into local fiat to support the tourism sector.
What to watch next
- Expect the SEC to publish draft rules and licensing amendments in the coming weeks/months, setting timelines for product launches and operational readiness for brokers, clearing houses and exchanges. Market participants should monitor those rule drafts for contract specs, margining requirements and other risk controls.
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