Thailand

The new rules will help promote innovation by foreign exchange service providers while also reducing the operational burden associated with licensing.

The link will enable customers, tourists and merchants make and receive payments with convenience, speed, security, transparency and at low cost, the BOT and SBV said.

The MoU is the first that brings together multiple ASEAN central banks under a single multilateral agreement to enhance cross-border payments.

The SEC has strengthened the obligations of capital markets and digital assets firms to supervise and manage the risks to their IT systems.

The six fintech associations are from Singapore, Cambodia, Malaysia, the Philippines, Thailand and Vietnam.

The BOT expects to begin testing retail CBDC applications with the private sector in December. Ahead of the tests, the BOT is inviting firms to suggest "interesting use cases".

The Bank of Thailand said the new blockchain-based system has passed its regulatory sandbox process after being tested by 18 commercial banks.

The mBridge project team will continue working to get to a minimum viable product that can be used by early adopters next year.

The SEC proposes to scrap requirements for firms to seek approval for private placement offerings, provided other investor protections are in place.

The agreement will help to promote cooperation on financial services regulation and fintech and regtech innovations.