# SEC revises knowledge and suitability testing requirements for digital token investors

- Link: https://www.thailand-business-news.com/markets/255966-sec-revises-knowledge-and-suitability-testing-requirements-for-digital-token-investors
- Published: 2025-11-10T07:00:00+07:00
- Author: SiamNews PR

**The SEC has revised regulations for ICO portals, reducing the investment knowledge
test requirements and introducing mandatory biennial suitability assessments for
digital token investors, set to take effect on November 16, 2025.**

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The Securities and Exchange Commission (SEC) has revised regulations for ICO portals
to streamline communication and services for investors. These changes aim to reduce
the burden on both service providers and investors concerning the investment knowledge
test. However, ICO portals are now required to conduct a suitability assessment 
for digital token investments at least once every two years.

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Previously, the SEC proposed amendments to regulations governing communication and
service provisions by ICO portals, specifically regarding the knowledge test and
suitability test for digital token investors. These proposed changes align with 
the standards applied to securities business operators and digital asset business
operators. Following a public hearing on the principles and draft amendments, the
majority of stakeholders expressed agreement with the proposed revisions.

The SEC has therefore issued notifications of
the aforementioned amendments with
key points as follows:   

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1. Requiring investors who are not institutional
investors, ultra-high net worth
investors, or high net worth investors withlegal entity status to complete a knowledge
test before investing. Investorswho have already passed the knowledge test are exempt
from retaking the test;          2.  Requiring ICO portals to assessinvestors’ suitability
for digital token investment (suitabilitytest) before providing services to investors.
Thesuitability assessment information must be reviewed and updated at least once
everytwo years.

The notifications of the amendments* have been published
in the Government Gazette,
taking effect from 16 November 2025.  

**Source** : [SEC amends knowledge and suitability test rules for digital token investors](https://www.sec.or.th/EN/Pages/News_Detail.aspx?SECID=12197&rand=113627)