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Thailand Issues New Regulations on Custodied Cryptocurrencies

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The Securities and Exchange Commission (SEC) of Thailand has issued new regulations on custodied cryptocurrencies. Companies offering crypto custody services are now required to “establish a digital wallet management system to accommodate efficient custody of digital assets and keys and ensure safety of clients’ assets,” the regulator described. Thai SEC’s New Crypto Rules Thailand’s Securities … Read more

Thailand Plans to Tighten Crypto Oversight, Giving Central Bank More Powers to Regulate Digital Assets

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Thailand is reportedly preparing to amend its law on digital assets to tighten the oversight of the crypto sector and empower the Thai central bank to oversee the sector. “Right now, the central bank has no room to enter into the regulatory framework except for notifying that cryptos are not a legal means of payment … Read more

Thailand Approves Tax Relief Measures for Crypto Trading

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The Thai Cabinet has approved tax relief measures for crypto trading. The new tax rules are “much more friendly to both investors and industry,” said an executive of a cryptocurrency exchange in Thailand. Thailand Adopts New Tax Rules for Crypto Investments Thailand’s Cabinet approved new tax relief rules Tuesday for crypto trading, according to an … Read more

Thailand Plans to Become ‘Crypto-Positive Society’ — Governor Says ‘Crypto Is the Future’

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Thailand is laying the groundwork to become a “crypto-positive society” with the aim to attract crypto holders and boost its tourism industry. The country hopes to gain back some of the $80 billion in lost tourism revenue due to the Covid-19 pandemic and subsequent shutdown. Thailand Plans to Attract Crypto Holders The Tourism Authority of … Read more

Thailand Sees Rising Adoption of Cryptocurrencies as Means of Payment — Warns of Risks

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Bank of Thailand says a growing number of companies are asking for payments in cryptocurrencies, such as bitcoin and ether. The central bank reiterates its stance on crypto and warns of the risks of using them as a means of payment. The Bank of Thailand (BOT), the country’s central bank, issued a warning notice titled … Read more

Thai Financial Regulator Claims Controversial Crypto Rule Proposal Was Just to Gauge Public Opinion

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The Thai financial watchdog has reportedly retreated from its initial controversial crypto rule proposal. Citing the country’s Securities and Exchange Commission (SEC), a local media outlet stated that public criticism was significant regarding the matter. People ‘Misunderstood’ Minimum Annual Income Rule, Claims the SEC According to the Bangkok Post, the Thai SEC is retracting from … Read more

New Crypto Rules in Thailand Could Require Traders to Show Income Before Opening Trading Accounts

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Thailand seeks to introduce a new set of rules for retail crypto investors, specifically targeting those who want to open accounts. The Thai financial watchdog could require domestic crypto exchanges to ask traders for proof of income. Thai SEC Could Also Ask Crypto Investors to Prove Their Knowledge of the Market According to a Bloomberg … Read more