Thailand Bans Meme Coins, Fan Tokens, NFTs From Trading on Crypto Exchanges
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....
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Thailand’s Securities and Exchange Commission has issued guidelines barring crypto exchanges from supporting four different types of tokens. No More NFTs Or Meme-Based Tokens In a Friday announcement from the Thai SEC, the regulatory body said that Secretary-General Ruenvadee Suwanmongkol had approved crypto exchange guidelines, Notification 18/2564 on “Rules, Conditions and Procedures for Undertaking Digital […]
Local exchanges now have until July 11 to update their rules for listing tokens in order to be in compliance with SEC guidelines. Thailand’s Securities and Exchange Commission has approved guidelines prohibiting crypto exchanges in the country from supporting four different types of tokens in certain cases.In a Friday announcement from the Thai SEC, the regulatory body said that Secretary-General Ruenvadee Suwanmongkol had approved crypto exchange guidelines, Notification 18/2564 on “Rules, Conditions and Procedures for Undertaking Digital Asset Business,” on Wednesday to go into effect.....
Toward the end of this week, crypto-assets rebounded in value after meandering for two weeks and consolidating. While specific tokens like decentralized finance (defi) coins, metaverse tokens, and smart contract coins improved a great deal, the meme-token economy increased in value as well, as a number of meme coins like dogecoin, shiba inu and dogelon mars have seen significant gains during the last seven days.
Meme Coins Climb Higher in Value This Past Week — Shiba Fantom and Luni Lead the Pack
21 days ago on December 5, the meme token economy was down more than 12% and....
While crypto-asset markets have shed billions during the last week, the top meme tokens coins by market capitalization have seen deeper losses than most coins. The top two meme digital assets dogecoin and shiba inu have seen double-digit losses during the last seven days. The top meme tokens coins by market capitalization today are worth $60.7 billion losing 3.5% in value over the last 24 hours.
Dogecoin and Shiba Inu Lose Double-Digits Last Week
During the course of the year, meme-based crypto assets were all the rage and many of them have gained significant value in 2021.
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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....