Thailand is accelerating work to overhaul regulation related to cryptocurrencies. Thailand's Securities and Exchange Commission (SEC) will introduce early this year a regulatory framework that broadly covers crypto-related products and activities, The Block reported on Jan. 22, citing the local media outlet Bangkok Post.

The most closely watched change is bringing cryptocurrency exchange-traded funds (ETFs) and cryptocurrency futures trading into the regulated system.

The SEC has already approved the introduction of ETFs in principle and is preparing detailed rules on investment and management. SEC vice chairman John Kwan Kongsakun said, "ETFs can eliminate concerns about hacking or wallet security and could be an attractive alternative for investors."

The SEC is also revising related regulations so that cryptocurrency futures can be traded on the Thailand Futures Exchange (TFEX). Under the Futures Trading Act, this can provide investors with tools for hedging and advanced investment strategies. The SEC is also pushing a plan to recognise cryptocurrencies as underlying assets for derivatives, and the legal foundation for cryptocurrency derivatives is expected to become clearer, The Block reported.