Thailand approves cryptocurrencies as underlying assets in regulated derivatives; SEC to amend law and expand crypto ETF rules (including bitcoin, ether); Fed researchers propose classifying crypto as separate asset class for derivatives

first published 2026-02-12T20:07:39Z

Thailand’s Cabinet approved allowing digital assets (cryptocurrencies and tokens) to serve as underlying/reference assets in derivatives and capital markets. The SEC will amend the Derivatives Trading Act so licensed operators can offer crypto-linked futures and options, and is working with the Thailand Futures Exchange (TFEX) on contract specs, custody, liquidity and clearing. Carbon credits are reclassified as “goods” to permit physically delivered futures. Separately, the SEC is rolling out a regulatory framework for bitcoin and crypto ETFs—having approved its first spot bitcoin ETF in 2024—with plans to expand to ether and diversified baskets and permit limited portfolio allocations (~4–5%).

AI Analysis

The Cabinet approved digital assets as allowable underlying assets in derivatives; the SEC will amend the Derivatives Trading Act and is developing rules and licensing with TFEX covering contract specs, custody, liquidity and clearing; the SEC has approved a spot bitcoin ETF in 2024 and plans to expand to ether and diversified ETFs with limited allocations (~4–5%). These concrete regulatory steps enable licensed crypto-linked futures/options and ETF expansion, supporting a modestly positive market view and a moderate trading impact.

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