Thailand’s parliament has voted to legalize issuance of securities like stocks and bonds based on blockchain technology.

Detailed guidelines from Thailand’s Securities and Exchange Commission (SEC) are expected to follow in the coming month – after the recent approval by the nation’s legislative assembly to have the securities and exchange act updated.

Act is first step

The act will be amended to allow for issuance of tokenized securities such as stocks and bonds, report media including Coindesk, which in turn refers to Bangkok Post.

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Complements decree

According to the reports, the SEC will be specifying which security token offerings will respectively fall under the securities act and under a royal emergency decree on digital asset business which has so far regulated crypto businesses in Thailand.