The Sandbox is meant to “facilitate experiments and the development of innovations supporting the efficient provision of digital asset services in a real-life context,” Thailand’s Securities and Exchange Commission said on Friday.

Following the approval of the SEC Board to create the crypto Sandbox in March and a later public hearing in May, the Sandbox launches.

The Sandbox is meant for industry participants in six categories, including digital asset exchanges, brokers, dealers, fund managers, advisers, and custodial wallet providers, as the SEC specifically pointed out.

Applications are welcome in the Sandbox now. Based on their capital adequacy, work systems, and management structures, the Thai regulator said it will evaluate candidates’ qualifications.

Early this year, the Thai government took various crypto-positive actions. For instance, the Ministry of Finance apparently granted value-added tax exemptions for bitcoin trade in February. The Thai SEC changed pertinent rules in March to let professional investors make investments in American spot bitcoin exchange-traded funds.

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