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The government of Thailand has announced plans to adopt distributed ledger technology to fight tax avoidance. Director-general Ekniti Nitithanprapas said the Revenue Department intends to use blockchain to verify whether taxes were paid correctly and to speed up the tax refund process. Thai Government Announces Plan to Use Blockchain...
Around 50 prospective initial coin offerings have displayed interest in securing a licence from Thailand’s Securities and Exchange Commission. The news follows an approval of the licensing of digital currency businesses, which took effect last month. Of the 50 Interested in Licenses, Three Have Applied Already Since the...
The Securities and Exchange Commission of Thailand has published a timeline for their digital token regulations to come into force. The regulator stated earlier today that they would take effect from July 16, 2018. Thai Regulations Governing Digital Tokens Will Begin Later This Month According to article in...
Thailand’s Association of Securities Companies (ASCO) are considering creating a joint cryptocurrency exchange. The group of securities companies are hoping to receive a license from the Thai Securities and Exchange Commission (SEC). Recent Royal Decree Opens Up Thai Crypto Industry ASCO’s chairperson, Pattera Dilokrungthirapop, spoke to local Thai...
Players in Thailand’s crypto markets have petitioned the Finance Ministry to either delay or waive altogether a combined 22% tax burden aimed at dissuading investors from putting money into ICO’s and cryptocurrency within the Kingdom. Reformers Seek Changes in New Thai Tax Before it Takes Effect On March 29,...
Thailands new Royal Decree on regulating the transactions of digital assets was passed on March 27, granting potential ICOs an additional 30 days to inform the SEC of their plans while raising the capital gains tax and adding 7% VAT to all digital trades. Thai Crypto Traders Face...
Thailand’s cabinet is set to vote on implementation of a new 10% capital gains tax on profits from cryptocurrency investment. Royal Decree will empower the SEC to regulate digital currencies. New Tax Part of Royal Decree The Thai Revenue Department has asked the cabinet to vote on an...
Battle lines are being drawn across Asia with nations deciding whether to embrace blockchain and cryptocurrencies or suppress them. China and India have made their positions clear with a series of crackdowns on the industry while South Korea is finally taking a more positive outlook and may even...
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