Thailand's Securities and Exchange Commission (SEC) has introduced stringent regulations for the forthcoming G-Token, the world's first government-issued digital asset.

Upcoming G-Token

Thailand’s Securities and Exchange Commission (SEC) has unveiled stringent regulations for the forthcoming G-Token, touted as the world’s first government-issued digital asset.

The Public Debt Management Office (PDMO) will not allow the token for any form of payment or speculative trading, according to the SEC.

Instead, it is being positioned as a digital alternative to government bonds or savings products, designed to raise funds to address the national budget deficit.

Unlike other cryptocurrencies, the G-Token is designed strictly as an investment instrument, rendering it unsuitable for any payment functions.

The token will be tradable only on licensed digital asset exchanges within Thailand, as emphasized by the SEC.

Highlighighting the token’s investment-focused nature, SEC Secretary-General Pornanong Budsaratragoon said: “We want to ensure that the G-Token is a useful, technology-driven investment innovation — not merely a speculative tool. It must offer proper investment options, exit strategies, and investor protection.”

Key Details

Jomkwan Kongsakul, Deputy Secretary-General of the SEC, explained that the G-Token will be issued through an initial coin offering (ICO) portal selected by the PDMO.

While the launch is planned for July, some specifics, such as the issuance date, interest rate, and maturity period, are still to be announced.

To maintain a savings-oriented investment approach, the token will be tradable on the secondary market, giving investors more exit options.

“Unlike government bonds or equities, a G-Token is not a debt instrument and therefore falls under the Digital Asset Act, not traditional public debt laws,” Jomkwan said.

The move follows recent reports that Thailand’s SEC was developing a debt instrument trading platform using distributed ledger technology (DLT).

This new system aims to increase participation from securities firms and digitize bond trading across primary and secondary markets.

“In the future, there may be multiple chains for trading. Trading through DLT across all systems will be connected by a shared ledger, which is expected to be completed soon,” Jomkwan noted.

“There will be two types of securities issuance — traditional securities and digital-native products created through DLT.”