Public Hearing on The Listing Rule of Digital Tokens Issued and Operated by the Ministry of Finance

Modified on Thu, 11 Sep at 10:04 AM

Principle

In recognition of the importance and benefits of government policies that have continuously supported and promoted the development of the country's digital society and economy, and the application of new technologies and innovations to enhance the efficiency of Thailand's capital market, Bitkub Online Co., Ltd. (“Company”) aims to effectively support and accommodate the growth of new financial products and innovations issued and operated by the government or government agencies, both currently and in the future, in compliance with the law.

Therefore, the Company intends to add new criteria for the listing and delisting of digital tokens issued by the Ministry of Finance (“the Criteria”). These Criteria will serve as a guideline for the listing of such digital tokens that the Company will offer for trading. The purpose is to ensure the rules are appropriate for and in line with the characteristics, qualifications, and risk level of this type of digital token.

The Company hereby opens a public hearing on the minimum criteria for the proposed Listing Rule of digital tokens issued and operated by the Ministry of Finance with the following key points:

A MINIMUM CRITERIA FOR THE LISTING OF DIGITAL TOKEN ISSUED AND OPERATED BY MINISTRY OF FINANCE
CRITERIA FOR A REVIEW OF THE QUALIFICATIONS AND DELISTING OF DIGITAL TOKEN ISSUED AND OPERATED BY MINISTRY OF FINANCE

Impact

Relevant Party	Positive Impact	Negative Impact
Digital asset business provider (Company)	Establish clear criteria for the listing of digital assets to be offered as a service. Increased business opportunities by providing services related to digital tokens issued and operated by the Ministry of Finance.	Higher business operational costs, along with the responsibility to review, process, and audit all relevant documents and criteria.
Issuer	Establish clear criteria for considering and selecting digital tokens to be offered for trading. Increase channels for individuals and investors to access products and innovations from the government. Enhance and support the country's economic growth.	None
Users/Investors	Provides more options for accessing and investing in a wider variety of financial products. Promotes a better understanding of the criteria for digital tokens issued by the Ministry of Finance before making a trading decision.	None

Enforcement guideline

This enforcement guideline will come into effect only after the Company receives approval for the digital token Listing Rules from the Securities and Exchange Commission (“SEC”). The details will be announced to customers and related parties through the Company’s communication channels accordingly.

Key Principles of the Listing Rule of Digital Tokens Issued by the Ministry of Finance

The key principles of the Listing Rule stipulate that digital assets offered for trading must be digital tokens issued and operated by the Ministry of Finance. These tokens must not be illegal or possess characteristics that do not align with the specified criteria, including being a digital token with concealed transactions (Privacy coin). Furthermore, the credibility, data transparency, enforceability of rights, and compliance with applicable laws and regulatory criteria from regulatory authorities will also be considered.

Regarding qualification review and delisting of digital tokens issued and operated by the Ministry of Finance, the Company stipulates that a review will be conducted based on several factors. These include when the issuer is found to be non-compliant with the specified documents or criteria, the project is terminated or ceased, or when a regulatory authority issues an order or takes action regarding such digital tokens, or for any other necessary reason at the discretion of the Digital Asset Selection Committee. This is to protect the interests of investors and the public by utilizing the delisting process based on the general criteria outlined in the digital assets Listing Rule, which has already been approved by the SEC.