Thailand Eyes Bold Crypto Overhaul: Exchanges May Soon List Their Own Tokens
Thailand’s financial regulators are seeking public feedback on proposed updates to the framework governing crypto asset listings on local digital exchanges. The move, announced Friday by the country’s Securities and Exchange Commission (SEC), comes as Thailand continues to reshape its digital asset policies in response to growing market activity and broader efforts to modernize financial […]
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The Thai Securities and Exchange Commission (SEC) has enacted new rules for cryptocurrency exchanges operating in the country. Certain types of cryptocurrencies, including meme coins, fan coins, and non-fungible tokens (NFTs), are prohibited to trade on crypto exchanges. Thailand Sets New Rules for Crypto Exchanges, Banning Certain Types of Cryptocurrencies The Thai Securities and Exchange Commission (SEC) announced Friday that its board of directors has approved new rules governing cryptocurrency exchanges. Secretary-General Ruenvadee Suwanmongkol stated that the board meeting held on....
Authorities in Thailand have formally introduced a value-added tax (VAT) exemption for transfers of cryptocurrencies through government-approved exchanges. The tax break, in force until the end of next year, will also apply to digital currency issued by the Bank of Thailand. Royal Decrees Enforce VAT Exemption for Crypto Trading in Thailand Investors moving cryptocurrencies and digital tokens through exchanges in Thailand will benefit from a 7% VAT exemption on such transactions. A decree published in the Royal Gazette on Tuesday enforced the tax break retroactively from April 1, 2022. It....
Thailand Central Bank has planned to overhaul its crypto laws to grant more powers to the central bank. Reports have suggested that the new amendments to the regulation will include Central Bank to be a part of it. Finance Minister Arkhom Termpittayapaisith mentioned in an interview about the planned amendments. Additionally, the government will also […]
A new regulatory overhaul could put 40 out of 60 exchanges out of business in South Korea after the firms are expected to fail to meet the conditions that are being proposed by the Financial Services Commission (FSC). This action might also affect holders of locally used “kimchi” coins, that won’t be able to trade them for fiat in other exchanges. This could bring losses of more than $2.6 billion.
South Korea Exchange Options to Reduce Drastically
A regulatory overhaul might reduce drastically the number of exchanges operation in South Korea. According to FT,....
Bank of Thailand warns people against Bitcoin, saying it is electronic data and shouldn't be used as a currency. In the long list of countries shedding their light upon Bitcoin, Thailand seems to be one of the countries that doesn't know whether it should love or hate the virtual currency. Last month, the Bank of Thailand allowed the country's largest Bitcoin exchange site to resume operations. Bitcoin.co.th was forced to shut down in August last year, after Bank of Thailand ruled that the using and trading of cryptocurrencies was illegal. In February this year, the exchange was allowed to....