thai – DIGIT INFO

Thailand threatens Facebook over crypto scams and other fraudulent ads

DIGIT — Tue, 22 Aug 2023 01:25:04 +0000

Thailand’s digital minister said he would seek a court order to shut Facebook in the country unless it takes action on the alleged scams.

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Thailand Issues New Regulations on Custodied Cryptocurrencies

DIGIT — Thu, 19 Jan 2023 06:30:51 +0000

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 […]

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5,000 miles apart: Thailand and Hungary to jointly explore blockchain tech

DIGIT — Mon, 31 Oct 2022 02:20:01 +0000

The pact between the two nations’ financial technology associations will see cooperation on technology, including blockchain, to power their respective financial industries.

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Thailand and Hungary Partner to Promote Blockchain Tech in Financial Sector

DIGIT — Sun, 30 Oct 2022 08:00:28 +0000

Industry associations from Hungary and Thailand plan to cooperate on implementing blockchain technologies in the financial services sector. The two sides hope to share experience and produce ideas for alternative services as part of their new partnership. Thailand and Hungary Announce Blockchain Pact During Bilateral Fintech Forum The Thai Fintech Association and Hungary’s Blockchain Coalition […]

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Thai SEC Proposes Banning Crypto Businesses From Staking and Lending Activities

DIGIT — Sat, 17 Sep 2022 06:30:11 +0000

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 and reduce associated risks.” Thailand Seeks Public Comments on 2 Crypto Regulatory Proposals […]

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Crypto Ads in Thailand Must Feature Clear Investment Warnings, New Regulations Require

DIGIT — Fri, 02 Sep 2022 10:00:55 +0000

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 […]

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

DIGIT — Wed, 10 Aug 2022 03:30:55 +0000

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 […]

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Thailand’s Oldest Lender Delays Bitkub Exchange Acquisition Amid Tighter Crypto Rules

DIGIT — Fri, 22 Jul 2022 04:00:10 +0000

The company that owns Thailand’s Siam Commercial Bank has postponed a deal to acquire a majority stake in Bitkub, the country’s largest cryptocurrency exchange. The decision comes amid tightening crypto regulations that limit growth in domestic crypto trading. SCB Postpones Acquisition of Thai Crypto Exchange Bitkub The parent company of Siam Commercial Bank, SCB X, […]

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Thailand Exempts Crypto Transfers From VAT Until End of 2023

DIGIT — Wed, 25 May 2022 14:00:17 +0000

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 […]

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Thailand Adopts Rules Restricting Cryptocurrency Payments From April

DIGIT — Wed, 23 Mar 2022 19:30:35 +0000

Regulators in Thailand have decided to limit the use of cryptocurrencies as a means of payment. The authorities consider the country’s current payment system efficient and insist cryptos would only bring risks for the financial system, economy, people and businesses. Thailand SEC Issues Regulations Limiting Use of Digital Assets for Payments Financial regulators in Thailand […]

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