Yeliz Akmaca 
As of February 12, 2026, the move announced by Thailand SEC quickly became one of the most closely watched regulatory developments across Asia’s crypto landscape. Thailand has decided to loosen the rigid, traditional boundaries of finance. Digital assets are now finding their place inside the country’s official derivatives market. The Securities and Exchange Commission confirmed that cryptocurrencies like Bitcoin — and even carbon credits — will be formally recognized as “underlying assets” for regulated derivatives products. In other words, the approval mechanism the market had been waiting on has finally started to turn.
Momentum picked up after the Cabinet approved plans to align Thailand’s derivatives framework with international standards. Was it overdue? Possibly. But judging by statements from the SEC Secretary-General, the goal isn’t simply to follow trends. The intention is to build a more inclusive market. Instead of telling investors to just “buy and hold,” regulators want to offer modern tools that allow real risk management. This is where platforms like the Thailand Futures Exchange (TFEX) come into play, opening the door to crypto futures and options.
Digital Assets and Carbon Credits in the Same Basket
The SEC’s latest revisions expand the list of assets permitted in derivatives trading. It’s no longer limited to traditional commodities or financial indicators. Digital assets and carbon credits are now part of the framework. The aim is clear: broaden Thailand’s derivatives market while bringing it closer to global standards.
Technical details haven’t been finalized yet. Still, sources close to the process say contract structures for digital-asset-linked derivatives are expected to be released publicly in the coming days, with Bitcoin-focused instruments receiving priority.
At the same time, regulators stress balance. The Cabinet-approved package seeks deeper liquidity and market participation while maintaining oversight, risk controls, and investor protection. That emphasis matters — crypto remains politically sensitive.
A Framework for Bitcoin and Similar Assets
Under the revised rules, cryptocurrencies and other digital assets are officially recognized as legitimate investment classes for regulated derivatives. It may sound technical, but the implications are significant. In practice, this could allow Bitcoin-linked futures, options, and similar contracts to trade on platforms such as TFEX.
Not everything will happen overnight. But the direction is clear.
SEC Secretary-General Pornanong Budsaratragoon summarized the objective: expanding the range of permitted goods and variables under the Derivatives Act to support new product types. The language is familiar — broader market growth, more diversification, better risk management — except this time, crypto isn’t excluded.
Licensing Comes Next, Then the Mechanics
The SEC’s next steps are more technical, yet crucial. Operating licenses for derivatives providers will be amended to allow contracts referencing digital assets. Licensing and supervision frameworks for exchanges and clearing houses are also under review.
The regulator says it will work closely with TFEX to finalize contract specifications for digital-asset products. The focus is practical: risk management and real-world usability. Not just products that can exist — products that can actually trade.
A Regional Hub Strategy
Integrating digital assets into the derivatives market is part of Thailand’s broader ambition to position itself as a regional digital-economy hub. Earlier this year, the SEC also revealed plans for a comprehensive regulatory package covering crypto-related products and activities, including ETFs.
Timing, however, raises eyebrows. Some market participants view these reforms as delayed, primarily aimed at bringing digital asset activity under clearer legal structures. Regulators counter that disclosure requirements and capital standards will remain firmly in place.
“They Already Behave Like Financial Instruments”
Policy strategist and Gather Beyond founder Pichapen Prateepavanich sees it plainly: digital assets already function like financial instruments in practice. Regulation’s role isn’t to deny that reality — it’s to frame it.
That may be exactly what Thailand is doing. Crypto isn’t being glorified, and it isn’t being banned. It’s being invited to the same table as traditional finance. There are rules. There are risks. But ignoring it is no longer an option.
Bitcoin’s price remains relatively calm for now. Still, during Asian trading hours, attention has shifted elsewhere — derivatives volume. Will it pick up? Hard to say yet. Market chatter suggests TFEX-driven developments could quietly nudge regional liquidity in the short term.
You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.