• Thailand’s SEC explores spot Bitcoin ETFs to expand crypto investment options locally.
• Stablecoin proposals aim to widen access to debt markets with corporate bond backing.
• Polymarket crackdown highlights Thailand’s efforts to curb illegal crypto gambling.

Thailand is reviewing plans to introduce spot Bitcoin ETFs and stablecoins into its financial system while addressing concerns about crypto-related activities. The country’s Securities and Exchange Commission (SEC) is leading the initiative, reflecting Thailand’s evolving approach to cryptocurrency adoption.

Spot Bitcoin ETFs: A Move Toward Crypto Accessibility

The Thai SEC is considering proposals to allow spot Bitcoin ETFs, creating new investment opportunities for retail and institutional investors. Pornanong Budsaratragoon, the SEC’s Secretary-General, emphasized the need for Thailand to adapt to the global rise of cryptocurrencies while ensuring adequate investor protection.

Currently, direct Bitcoin ETF listings remain unavailable on Thai exchanges. However, in June 2024, One Asset Management launched a fund-of-funds that provides exposure to international Bitcoin ETFs. Although progress has been made, local listings are still anticipated.

Related: SCB Launches Stablecoin Service for Cross-Border Payments in Thailand

Stablecoins Offer New Avenues for Investors

The SEC is also assessing the potential of stablecoins backed by corporate bonds to enhance debt market accessibility. Government bond-backed stablecoins are being proposed by Thailand’s ruling Pheu Thai Party, aiming to diversify investment options for retail and institutional investors.

These efforts reflect the government’s intent to integrate stablecoins into Thailand’s financial landscape to promote economic growth.

Polymarket Under Scrutiny for Gambling Allegations

While advancing cryptocurrency regulations, Thailand’s authorities are cracking down on crypto-based platforms like Polymarket. The Technology Crime Suppression Division (TCSD) has accused the platform of operating as an illegal gambling site.

Lieutenant General Trairong Phiwpaen stated that Polymarket’s use of cryptocurrencies for prediction markets violates Thai gambling laws. The crackdown aligns with similar actions taken in Singapore, France, and Taiwan, where Polymarket faced restrictions due to regulatory concerns.

Despite regulatory pressure, Polymarket recorded a trading volume of $515 million in the first 15 days of 2025, underscoring its persistent market activity.

Related: Thailand in Partnership Talks With Ripple Over XRP Adoption