A balanced regulatory model for emerging digital industries: Evidence from Thailand’s digital governance

This article examines Thailand’s digital regulatory governance in response to digital economic transformation, with a focus on personal data protection, digital assets, and artificial intelligence governance. Rather than treating these regimes as isolated sectoral regulations, the study conceptualizes Thailand’s approach as a form of state-led experimental governance characterized by a hybrid regulatory structure. Drawing on statutory analysis, policy documents, and regulatory design, the article identifies a balanced regulatory model composed of three core elements: strong entry regulation, controlled experimentation through regulatory sandboxes, and gradual legalization via secondary legislation. The findings suggest that Thailand’s regulatory architecture is designed to promote digital innovation while managing systemic risks related to data sovereignty, financial stability, and public trust. By positioning Thailand as a theoretical case within Asian digital governance, this study offers comparative insights for scholars and policymakers concerned with digital governance in Asia and other emerging economies.