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Thailand Officials Approve Blockchain-Based Securities TradesDollar Destruction | Dollar Destruction
Securities could be tokenized and issued on a blockchain platform this year. The National Legislative Assembly of Thailand has approved an amendment to the Securities and Exchange Act that may allow for stocks and bonds to be tokenized and issued on a blockchain platform, according to a February 22 report from The Bangkok Post. Prior to this amendment, the Securities and Exchange Act only allowed the Thailand Securities Depository Co Ltd. – a subsidiary of Thailand's stock exchange – to trade and hold "scripless securities." (This refers to securities without a physical certificate) Now, any businesses that wish to operate a digital token or securities depository will be able to "apply for depository licenses." The amended act will also allow companies undergoing fundraising efforts such as initial coin offerings (ICOs) and security token offerings (STOs) to issue tokenized securities to their investors over a blockchain platform. However, an STO may be regulated under the digital