Crypto Ads in Thailand Must Feature Clear Investment Warnings, New Regulation...
Thailand has introduced tighter rules that will oblige crypto companies to duly inform potential customers of the investment risks on their advertisements. The new regulations also prohibit businesses in the industry from making misleading or exaggerated claims. Securities Watchdog Adopts Stricter Advertising Rules for Crypto Platforms in Thailand Thailand’s Securities and Exchange Commission (SEC) has approved new requirements for crypto ads, Bloomberg and Reuters reported quoting the regulator. According to a statement released on Thursday, the changes come after the....
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Cryptocurrency-related adverts in Thailand will have to meet strict rules as the Securities and Exchange Commission looks to emulate foreign standards. Thailand’s Securities and Exchange Commission (SEC) will implement stringent advertising rules for cryptocurrency firms operating in the country by October 2022.The Thai SEC informed cryptocurrency-related businesses operating in the country via email that adverts concerning digital currencies must have clear investment warnings to consumers on Sep. 1. The statement was later posted on the SEC website.The Securities regulator has instituted....
What is rather worrisome is the so-called Payment System Act. This legislative proposal is still awaiting government approval, NewsBTC understands. Regulation of Bitcoin has always been a topic of substantial debate. Some people see the benefit of being officially recognised, whereas others are not overly bothered by it. But if Bitcoin is to go mainstream, some regulation may be necessary for the long run. Bank of Thailand is working on a new set of fintech regulation that may affect Bitcoin as well. The central bank of Thailand has deemed the time right to introduce more fintech....
The Thai Revenue Department had initially intended to tighten oversight of cryptocurrency trading after seeing substantial market growth. Thailand has decided to suspend the implementation of its 15% cryptocurrency capital gains tax for now. The proposal, which was presented earlier this year, triggered a lot of opposition, but it appears that some sort of crypto tax will still be implemented.Thailand will reportedly not proceed with its 15% cryptocurrency tax plan after traders in the nation expressed strong opposition, according to The Financial Times. On income taxes, tax officials said....
A growing number of regulators worldwide have come after Binance. Thailand’s Securities and Exchange Commission (SEC) filed a criminal complaint against the crypto exchange after the authorities in the Cayman Islands, the U.K., and Japan issued similar warnings on Binance and related companies. Thailand’s Regulator Files Criminal Complaint The Thai Securities and Exchange Commission announced Friday that it “has filed a criminal complaint against Binance … with the Economic Crime Suppression Division of the Royal Thai Police (ECD).” According to the SEC:....
Bitcoin trading has resumed in Thailand. Photo via Doug88888. The last piece of Bitcoin news that people probably remember getting out of Thailand was when everyone thought they were the first country to ban the cryptocurrency. Although the official statement from the Foreign Exchange Administration was not actually a ban on the cryptocurrency, many people around the world understood that the statement about illicit activities related to Bitcoin was probably not good. It seems that regulation in Thailand is about to move in the opposite direction as the Bank of Thailand decided the....