On 10 June 2025, the Thai Cabinet approved the draft Electronic Securities Bill, which seeks to modernise the country’s capital markets by adopting digital technologies. The bill promotes the issuance and trading of securities, such as stocks, bonds and investment units, by eliminating the need for traditional paper-based systems and replacing them with electronic platforms.  

This initiative is expected to digitise the financial sector and enhance efficiency, accessibility and transparency in financial transactions. Additionally, it streamlines data recording, transfers and collateral management and investor protection. It also aims to open the door for innovations like tokenized bonds (G-tokens). If Parliament approves, the new system could be operational by 2025.  

Understanding the Electronic Securities Bill

According to the Securities and Exchange Commission’s (SEC) Secretary-General Pornanong Busaratrakul, the Electronic Securities Bill will set the stage to digitise Thailand’s capital market. The legislative reform involves updates to several key laws, including the Securities and Exchange Act (1992), to ensure the country’s financial system can support new technologies like blockchain and tokenized securities. This shift will enable companies to issue digital shares or bonds through electronic systems instead of physical certificates, streamline trade execution and settlement using blockchain or other secure digital platforms, and enhance efficiency in key financial processes, such as transfers, pledges and record-keeping.  

Furthermore, the proposed bill aims to reduce costs in securities transactions, improve transparency and asset ownership traceability and promote innovation through digital bonds like “G-tokens” and tokenized assets. It also aims to expand access to digital financing solutions for smaller firms and retail investors, enabling them to benefit from a streamlined digital capital market.  

The provisions under the bill incorporate measures to protect investors and uphold regulatory oversight to ensure compliance. For example, it requires custodianship and audit trails to mitigate fraud risks and enhance transparency. Digital securities platforms must also adhere to licensing and regulatory standards established by the Securities and Exchange Commission (SEC) of Thailand.  

Next steps

Although Cabinet approval is a significant step, the bill must still be approved by Parliament and signed into law. If passed, the new framework, along with supporting infrastructure and regulatory guidelines issued by the SEC, could be fully implemented by late 2025. 

If you require more information about this update or are looking for expert guidance on optimising the modernisation of financial systems worldwide, please feel free to contact our Bolder team. 

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