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Thailand Abolishes Value-Added Tax Previously Applicable on Digital Asset Trades
9.2.2024
The Thailand Finance Ministry has announced the removal of the previously applicable value-added tax on digital asset trading. This exemption, which took effect on Jan. 1, 2024, extends to regulated brokers, dealers, and authorized cryptocurrency exchanges. VAT Exemption to Bolster Thailand’s...
Binance Aids Thai Police in Crackdown on Crypto-Related Criminal Networks
3.10.2023
Crypto exchange Binance has played a major role in aiding Thailand’s Royal Police in identifying and cracking down on several crypto-related criminal networks.
The company told Cryptonews that Binance’s investigations team alongside the Cyber Crime Investigation Bureau (CCIB) and the Royal Thai...
Thailand to Tax Overseas Earnings From Crypto Traders – Will it Impact Foreign Investment?
19.9.2023
Thailand would soon tax foreign earnings from crypto traders, a tighter measure to close the loophole, which allowed overseas income into the country tax-free.
The rule came from Thailand’s Revenue Department, which aims to fund its proposed economic stimulus, according to a BangkokPost report....
Five Arrested in Thailand for Alleged Involvement in $76M Crypto Scam
12.9.2023
In a coordinated cross-border operation, Thai authorities have arrested four Chinese nationals and one Lao citizen suspected of orchestrating a massive 2.7 billion baht ($76 million) crypto scam, Bangkok Post reported.
The investigation, led by the Cyber Crime Investigation Bureau (CCIB)...
Thai Crypto Exchange Zipmex's $100 Million Bailout Stumbles as Payment Missed
24.3.2023
Troubled crypto exchange Zipmex's $100 million bailout deal is in jeopardy as the exchange has not received its latest payment due March 23.
The exchange was slated to receive $1.25 million on Thursday as part of its $100 million acquisition deal with V Ventures, a subsidiary of Thoresen Thai...
Thailand Issues New Regulations on Custodied Cryptocurrencies
19.1.2023
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...
Thai SEC Proposes Banning Crypto Businesses From Staking and Lending Activities
17.9.2022
The Thai Securities and Exchange Commission (SEC) has proposed banning businesses from engaging in crypto staking and lending activities. The regulator is seeking public comments on the proposal, noting that the purpose of this prohibition is “to provide greater protection to investors...
Zipmex requests meetings with Thai regulators to discuss ‘recovery plan’
26.8.2022
The firm stated that its potential investors will also attend the meetings, which will include Zipmex, Thailand's SEC, and government agencies
Thailand Plans to Tighten Crypto Oversight, Giving Central Bank More Powers to Regulate Digital Assets
10.8.2022
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...
Thailand Approves Tax Relief Measures for Crypto Trading
11.3.2022
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...
Thailand Relaxes Tax Rules for Crypto Investors, Scrapping 15% Withholding Tax
3.2.2022
Thailand has relaxed tax rules for cryptocurrency investors, scrapping its planned 15% withholding tax. “The revenue department did a lot of homework and reached out to crypto operators as well to get feedback … It is much more friendly to both investors and the industry,” said...
Binance to Launch New Cryptocurrency Exchange in Thailand After Thai SEC Filed Criminal Complaint
19.1.2022
Crypto exchange Binance is launching a new exchange in Thailand after the country’s Securities and Exchange Commission (SEC) filed a complaint against the company for operating without a license. Binance has now signed an agreement with Gulf Energy Development, a Thai public company,...
Thailand Doesn’t Prohibit Crypto Use for Payments but Warns of Price Fluctuation
12.12.2021
Bank of Thailand’s officials say that using cryptocurrency as a means of payment is not illegal. However, they added that users “must be able to accept the risks,” including price fluctuation. Using Crypto to Pay for Goods and Services Is Not Illegal in Thailand Sakkapop...
Thailand Plans to Become ‘Crypto-Positive Society’ — Governor Says ‘Crypto Is the Future’
29.11.2021
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...
Thai lawmakers urged to approve tourism crypto to entice digital nomads
26.11.2021
The rollout of the Tourism Authority of Thailand’s TAT Coin is coming closer to fruition, and is now awaiting government approval according to local figures
Thailand Sees Rising Adoption of Cryptocurrencies as Means of Payment — Warns of Risks
11.7.2021
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...
Thailand to introduce in-person KYC for crypto exchanges
3.5.2021
Thailand’s government aims to curb new crypto account creation with stringent KYC requirements
Thai Central Bank Declares Baht-Pegged Stablecoin Illegal in Violation of Currency Law
21.3.2021
Thailand’s central bank has declared a stablecoin pegged to the Thai Baht illegal, citing violation of the country’s currency law. The Bank of Thailand (BOT) is currently working on a regulatory framework for stablecoins. Thailand Bans Baht-Pegged Stablecoin The Bank of Thailand,...
Thai Financial Regulator Claims Controversial Crypto Rule Proposal Was Just to Gauge Public Opinion
4.3.2021
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’...
New Crypto Rules in Thailand Could Require Traders to Show Income Before Opening Trading Accounts
25.2.2021
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...