The current Non-Fungible Token (NFT) trend, or the adoption of technology, is used to express ownership or rights to something or that is unique to each coin. cannot be substituted (non-fungible)* such as art, music, pictures, collectibles about artists or athletes. is gaining popularity Both from those who are interested in taking their assets or portfolios for sale and offering them for sale in the form of tokens. Operators who wish to provide a platform for NFT trading on both the primary and secondary markets. And those who are interested in trading NFT, whether with a passion for work for use or for speculation Due to the creation of a portfolio in the NFT style, it can increase the convenience of trading on the exchange. Make it accessible to more users with technology. and also improves management efficiency Property Rights Including anti-counterfeiting as well
According to the Royal Decree on Doing Digital Asset Business B.E. 2561 (According to the Digital Assets Act), it does not specifically specify NFTs, but defines the scope of digital assets under supervision as follows:
(1) Cryptocurrency It is a digital coin used as a medium for trading in order to obtain goods, services or any other rights. or exchange between digital assets together
(2) digital tokens for investment An investment token is a digital coin that gives you the right to invest in any project or venture.
(3) Digital tokens for utilization An utility token is a digital coin that gives its holder the right to acquire a specific commodity, service, or other right, divided into available utility tokens and non-available utility tokens.
a. utility token ready to use Coin holders can use the right to redeem products orThe service can be used immediately from the date of the initial offering.
b. utility token not available Token holders will not be able to redeem or utilize such goods or services on the date of offering, buthave to wait for the right to exercise in the future
While the Securities and Exchange Commission (SEC) will supervise the issuance of investment tokens and utility tokens that are not readily available, therefore, if an investment token or utility token is not available, issuers must be able to Get permission from the SEC by disclosing information as required. and must be offered through a digital token offering system provider (ICO Portal) approved by the SEC.
for the case of NFTs must consider whether the characteristics of each NFT coin qualify for a specific type of “digital asset” under the Digital Assets Act or not.
If it is an NFT for which the right to acquire goods, services or any other specific right, for example, is issued an NFT granting the right to acquire a property. This could be a physical object or a digital file. or having accumulated NFT and giving the holder the right to exchange goods or other rights, utility tokens will be defined according to the Digital Assets Act. Digital Asset Act
But if the NFT is the property itself When trading or transferring, they stick together. inseparable It does not impose any additional rights and is not intended to be used as a medium for trading on exchanges, such as NFT generated by storing digital files on the Interplanetary File System (IPFS) and generating digital coins for convenience. forex trading (Whether single or multiple NFT coins are generated from a digital file stored on IPFS), the digital file and coins are transferred together. cannot be modified and cannot be separated, etc. Such NFT will not be a digital asset. Operations related to NFT are therefore not regulated by the Digital Assets Act.
forDoing business related to digital assets Whether cryptocurrencies or digital tokens, entrepreneurs must obtain a license from the Minister of Finance. and comply with the rules set by the SEC. Currently, there are 5 types of business supervision, namely, digital asset trading center (exchange), digital asset broker (broker), digital asset dealer (dealer), digital asset advisor ( investment advisor) and digital asset fund manager (private fund)
While doing business related to NFT that is considered a digital asset under the Digital Assets Act in any manner as a hub or network provided for the sale or exchange of NFT by matching or seeking a counterparty; or organizing a system or facilitating those who wish to buy, sell or trade NFT to make an agreement or match By acting as a normal trade (NFT marketplace), must obtain a digital asset business license in the type of digital asset exchange from the Minister of Finance.
Currently, Thailand does not have an NFT marketplace that has received a digital asset exchange license from the Minister of Finance. In addition, licensed digital asset exchanges cannot bring NFTs that are classified as digital assets under the Digital Assets Act to provide trading services in digital asset exchanges according to Article 39/1 of the Notification of the Securities and Exchange Commission No. KorThor. 18/2564 Re: Rules, Conditions and Procedures for Undertaking Digital Asset Business (No. 11) dated June 10. 2021
The SEC is in the process of reviewing regulatory regulations. NFT marketplace to comply with international regulatory guidelines