The Thai regulator wants to simplify access for crypto companies to the derivatives market and has already put a proposal up for discussion. The idea is to allow licensed players to submit applications directly, without the need to create separate legal entities.
This is essentially a continuation of previous steps where crypto assets were already permitted as a base for futures. Now the goal is broader — to expand the market itself while keeping it under control and reducing the risks of conflicts of interest.
If the initiative is accepted, it will become easier for crypto companies to enter this segment. They won't need to establish separate structures, while their activities will be subject to stricter oversight.
The SEC says changes are needed to give investors more ways to manage risk and work with their portfolios. They also want to align rules for exchanges and clearinghouses with international standards.
The discussion will last until May 20. After that, the regulator will consider feedback from market participants and finalize the rule set.
Crypto derivatives are gaining traction.
Thailand's initiative comes amid the global growth of the crypto derivatives market and expectations for their approval in the US.
On Tuesday, Blockchain.com launched perpetual futures trading directly in their self-custody wallet. Now users can open positions with leverage, using BTC as collateral, without transferring funds to an exchange. The solution operates on Hyperliquid and provides access to over 190 markets with leverage up to 40x.
A similar strategy has been adopted by other platforms. Earlier this year, Kraken and Coinbase introduced perpetual futures tied to stocks, but only for users outside the US. This is part of a broader trend towards 24/7 trading and multi-asset products.
In the US, these instruments are still pretty much off-limits, but that could change. Back in March, CFTC Chairman Michael Selig stated that the regulator is working on launching crypto perpetuals and may make progress in this area soon.
Meanwhile, exchanges are gearing up for potential approval. Last week, Kraken's parent company, Payward, struck a deal to acquire Bitnomial— a regulated derivatives platform in the US. This deal aims to broaden access to products, including perpetual futures, for American clients.
