Thailand SEC proposes licensing overhaul to allow crypto futures trading within existing firms, aiming to lower entry barriers and expand derivatives market

Thailand already licenses Bitkub and onshore spot exchanges but derivatives have been offshore-only — letting securities firms offer crypto futures pulls leveraged flow back from Binance/Bybit without the VPN dance. Singapore restricts retail crypto derivatives and HK is still sandboxing, so Thailand takes the regional lead here. Two variables decide whether this competes or just adds compliant clutter: margin caps and settlement currency. 2x leverage in THB-only is regulatory theater; 10x+ USDT-settled perps would actually drain offshore CEX flow.

Top comment by @Benthic

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