# SEC issues new regulations regarding record keeping of digital asset business operators

- Link: https://www.thailand-business-news.com/law/153256-sec-issues-new-regulations-regarding-record-keeping-of-digital-asset-business-operators
- Published: 2024-07-25T10:22:48+07:00
- Author: SiamNews PR

**The SEC has recently amended regulations for digital asset business operators,
which will come into effect on July 16, 2024. These amendments include requirements
for maintaining custody records of client funds and assets, as well as documenting
fund management activities.**

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The Securities and Exchange Commission (SEC) has issued amendments to the regulations
regarding record keeping of digital asset business operators (DA operators), effective
from 16 July 2024. The amendments aim to ensure that DA operators provide information
that is accurate, complete and updated, enabling effective and timely monitoring
and supervision as well as enhancing trust and confidence in Thailand’s digital 
asset business sector.

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In May 2024, the SEC conducted a public hearing on the proposed amendments to the
regulations governing the management and storage of data related to digital asset
business operations with the objectives of ensuring accurate and adequate information
for effective and timely monitoring and supervision of operational risk of DA operators,
and enhancing trust and confidence of stakeholders. Most respondents agreed with
the principles and the proposed amendments to such regulations. The SEC has therefore
issued the amendments* with the key points as follows:  

(1) DA operators are required to keep records related to the custody of client fund
issued by the custodial bank, and records related to the custody of client digital
assets issued by digital asset custodians permitted to provide such services legally;
and

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  (2) DA fund managers are required to keep documentation of their activities related
to digital asset fund management, including documentation regarding consideration
and decision making on digital asset investment activities.   

Additionally, DA operators are required to retain the accurate, complete and updated
records mentioned above for at least five years from the date of such operations,
with the requirement that during the first two years, the records must be stored
in a format that is readily accessible for the SEC’s review or inspection. 

The Notification concerning the amendments has been published in the Government 
Gazette and has become effective since 16 July 2024.  

**Source** : [SEC issues amendments to the regulations regarding record keeping of digital asset business operators](https://www.sec.or.th/EN/Pages/News_Detail.aspx?SECID=10957&rand=113627)