What are the most significant cases or transactions that you have recently been involved in? 

Thailand is among the few pioneering nations to enact specific legislation, namely The Emergency Decree on Digital Asset Businesses B.E. 2018, to regulate digital asset businesses. This legislation includes a comprehensive licensing framework overseen by the Ministry of Finance and the Securities and Exchange Commission.

In light of several adverse incidents and market downturns in the digital asset industry following the bull run in late 2021, we successfully secured licenses to operate a digital asset exchange and brokerage platform in less than six months of submitting our application. This accomplishment is particularly significant given the stringent and enhanced licensing standards introduced in response to recent crises in the digital asset and cryptocurrency sectors. We are proud to have officially launched our platform, “Binance TH by Gulf Binance,” in Thailand in November 2023.

How do you see the general counsel role evolving in Thailand over the next five-ten years?

In the coming years, I anticipate a new trend where the roles of legal and compliance will increasingly converge, particularly within regulated tech startups. Some companies may even consolidate all second-line functions such as AML, data privacy, and risk management into a single counsel role. This reflects a growing recognition of the need for a one-stop service capable of providing comprehensive advice across various business aspects.

The traditional separation between general legal and regulatory compliance functions will no longer suffice to meet the demands of the modern world, which requires agility and speed. Future general counsel should possess a reasonable understanding of technologies and demonstrate strong governance capabilities. It is essential for the new generation to cultivate and gain experience in a variety of skills to ensure a successful career in this evolving landscape.

Which recent political, economic or regulatory changes have impacted your work the most in recent years? 

The approval of BTC ETF and ETH ETF by US and HK regulators in early 2024 marked a significant milestone, signalling official recognition of digital assets and cryptocurrencies. This development is poised to contribute positively to the digital asset market and industry. Many countries acknowledge the necessity of this new asset class, and we anticipate further regulatory advancements in this field.

How do you motivate and manage your legal team well?

To effectively motivate and manage my team, I prioritise clarity and fairness. It is essential to communicate clearly with the team, providing them with well-defined directions and reinforcing the value of their contributions. I treat each member as an integral part of the firm, collaborating to drive the company’s success. Ensuring that they take pride in the value of their work and contributions is crucial. Furthermore, it is imperative to reward them on a fair and equitable basis.