泰国在加密资产监管上迈出关键一步。泰国内阁已批准对《衍生品法》作出重要修订，正式将加密货币纳入受监管衍生品的可用基础资产范围。这意味着，加密资产将在泰国资本市场框架内，被认可为可用于对冲、定价和结构化交易的合规金融工具。
泰国证券交易委员会（SEC）秘书长 Pornanong Budsaratragoon 表示，此举将拓宽投资选择，强化风险管理机制，并推动市场向更高透明度和多元化方向发展。监管层同时指出，后续将起草配套规则，调整衍生品牌照制度，允许数字资产相关机构提供与加密货币挂钩的合约产品，并同步审查交易、清算与风险控制标准。
根据规划，SEC还将与泰国期货交易所（TFEX）协调，制定更贴合数字资产波动特性的合约细则，避免传统衍生品风控框架与加密资产风险错配。业内普遍认为，这将为“合规加密衍生品市场”“机构级加密对冲工具”等方向打开空间。
政策策略师、Gather Beyond 创始人 Pichapen Prateepavanich 指出，此次修法本质上是“让监管与市场现实对齐”。她认为，如果结构设计合理，加密衍生品可以改善流动性、支持套期保值，并吸引机构资金，否则市场仍将维持低深度和高波动的状态。但她也强调，若信息披露与资本充足标准不到位，系统性风险仍可能放大。
回顾历史，泰国自2018年推出《数字资产业务紧急法令》以来，逐步建立了以许可、执法与投资者保护为核心的监管体系。近年又扩展至稳定币、基金投资数字资产、代币化资产以及加密ETF规划。此次衍生品立法升级，被视为泰国将加密资产全面纳入正规金融系统的关键节点。
在全球多国仍对加密衍生品保持审慎的背景下，泰国此举或将提升其在亚洲数字金融监管中的战略地位。
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