Thai Cabinet approves 4 capital market laws after 3.5-year delay

MGR Online•Economy•13h ago

Reader Briefing

The Thai Cabinet approved four capital market law drafts on August 25, 2026, allowing the SEC to conduct joint criminal investigations with police.

•The Cabinet approved four capital market law drafts on August 25, 2026, which had previously been approved in principle in early 2023.
•The new laws empower SEC officials to jointly investigate high-impact cases with the police and introduce administrative fines.
•The delay in legislation coincided with significant financial losses, including over 20,600 million baht in the STARK case and 800 million baht in the MORE case.
•As of July 2026, the number of frozen crypto mule accounts reached 62,516.

•The Cabinet approved four capital market law drafts on August 25, 2026, including the Securities and Exchange Act and the Digital Asset Businesses Emergency Decree amendment.
•The approved law drafts had been approved in principle since early 2023, representing a delay of nearly three and a half years.
•Ekniti Nitithanprapas, Deputy Prime Minister and Minister of Finance, announced the Cabinet's approval of the four proposed law drafts.
•As of the end of July 2026, 62,516 crypto mule accounts were suspended, an increase of nearly 30% from the end of 2025.
•The STARK Corporation case resulted in damages exceeding 20,600 million baht, with over 3,400 bondholders seeking claims totaling over 130,000 million baht.
•In the first half of 2026, the SEC issued fines to 41 offenders across 53 charges, totaling over 12.5 million baht.
•The government is increasing the SEC's investigative powers because traditional police-led processes were too slow for complex stock manipulation schemes.
•The four law drafts must now pass three readings in Parliament before being published in the Royal Gazette to become effective.

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Cabinet(คณะรัฐมนตรี)

The government body that approved four capital market law drafts on August 25, 2026.

SEC(ก.ล.ต.)

The regulator granted new powers to jointly investigate high-impact capital market criminal cases with the police.

STARK Corporation

A company involved in a fraud case with damages exceeding 20,600 million baht.

A stock involved in a price manipulation case causing 800 million baht in damages.

Office of the Council of State(สำนักงานคณะกรรมการกฤษฎีกา)ℹ️

The body that reviewed the four capital market law drafts before Cabinet approval.

Anti-Online Scam Center(ศูนย์ต่อต้านการฉ้อโกงออนไลน์)

The center that reported 121,921 online fraud cases in the first four months of 2026.

Ministry of Finance(กระทรวงการคลัง)ℹ️

The ministry that proposed the four capital market law drafts to the Cabinet.

Ekniti Nitithanprapas(เอกนิติ นิติทัณฑ์ประภาศ)ℹ️

Deputy Prime Minister and Minister of Finance who announced the Cabinet's approval of the law drafts.

Pornong Bussaratrakul(พรอนงค์ บุษราตระกูล)

Secretary-General of the SEC.

Draft Securities and Exchange Act(ร่าง พ.ร.บ.หลักทรัพย์และตลาดหลักทรัพย์ฯ)

One of the four capital market law drafts approved by the Cabinet on August 25, 2026.

Draft Derivatives Act(ร่าง พ.ร.บ.สัญญาซื้อขายล่วงหน้าฯ)

One of the four capital market law drafts approved by the Cabinet on August 25, 2026.

Draft Trust for Capital Market Transactions Act(ร่าง พ.ร.บ.ทรัสต์เพื่อธุรกรรมในตลาดทุนฯ)

One of the four capital market law drafts approved by the Cabinet on August 25, 2026.

Draft Amendment to the Digital Asset Businesses Emergency Decree 2018(ร่าง พ.ร.บ.แก้ไขเพิ่มเติมพระราชกำหนดการประกอบธุรกิจสินทรัพย์ดิจิทัล พ.ศ. 2561)

One of the four capital market law drafts approved by the Cabinet on August 25, 2026.

Constitution 2017(รัฐธรรมนูญ 2560)

The constitution whose Section 77 supports the use of administrative fines to reduce unnecessary criminal penalties.

Act on Administrative Fines 2022(พ.ร.บ.ว่าด้วยการปรับเป็นพินัย พ.ศ. 2565)

The law aligning with the new administrative fine penalties in the capital market drafts.