Posts in category

Thailand


Thailand’s securities regulator is reportedly expecting to approve five initial coin offerings (ICOs) later this month. According to the Bangkok Post on Wednesday, the Thailand Securities and Exchange Commission (SEC) has said that, while 50 ICOs in the country are currently applying for regulatory approval, five of them are already in a position to move ahead. …

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Bank of Thailand (BoT), the country’s central banking authority, is eyeing the adoption of blockchain technology in its interbank clearance and settlement system. According to a speech published on Wednesday, central bank governor Veerathai Santiprabhob indicated at an event in Singapore that developing a wholesale central bank digital currency is currently in the country’s pipeline as …

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Thailand’s national stock exchange has launched a new blockchain-powered component for startups.   The Stock Exchange of Thailand (SET) has launched a crowdfunding marketplace that is built on blockchain technology in a bid to widen the access to capital funds for domestic startups. According to an announcement from the Stock Exchange of Thailand (SET) on Friday, …

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An increasing number of countries are looking at the cryptocurrency space, with three national governments launching efforts to regulate and examine projects in the last two weeks. – with a particular focus on tax policy. As might be expected, some jurisdictions – especially in the Asian market – have moved to clarify the rules that …

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Thailand has moved one step closer to enacting taxes on cryptocurrencies. Investors trading cryptos in the country are expected to face a 7 percent value added tax (VAT) for all trads in addition to a 15 percent tax on capital gains, according to a report by Nikkei Asian Review on Friday. The move marks the …

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Last week Thailand’s government issued drafts of two laws regarding cryptocurrency and ICO legislation. There is a certain cause for optimism as long as Thai lawmakers intend not to ban, but to regulate the technology. Nevertheless, any fears remain legitimate after Veerathai Santiprabhob, governor of the Central Bank of Thailand asked all banks in the …

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Fourteen Thai banks have joined forces to create the Thailand Blockchain Community Initiative, which will digitize letters of guarantee on a shared blockchain platform, Thailand’s central bank announced on Monday. The country’s top banks – Bangkok Bank, Krung Thai Bank, Siam Commercial Bank and Kasikornbank – will all participate in the initiative, which utilizes the …

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Thailand’s government issued drafts of cryptocurrency and ICO legislation as lawmakers reiterated they had no intention of banning the technology, Bangkok Post reported March 14. As Bangkok Post and others report, Nathporn Chatusripitak, a spokesman for Deputy Prime Minister Somkid Jatusripitak, announced the two pending royal decrees, which will now go forward to approval from …

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The Cabinet of Thailand, the executive branch of the country’s government, has provisionally passed two royal decree drafts aimed at regulating cryptocurrencies, a report states. The drafts – covering both cryptocurrency and initial coin offering transactions, as well as a possible tax on crypto capital gains – first received agreement from government ministers on Tuesday. Before …

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Thailand’s Siam Commercial Bank (SCB) is adding two new currencies to its Ripple-based blockchain remittance platform. According to a report from the Bangkok Post on Tuesday, SCB, one of the largest commercial banks in the country, is now adding euros and British pounds to its cross-border remittance system powered by tech from Ripple, the San …

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Thailand is set to draft legislation that would oversee cryptocurrency trading with the view of taxing the crypto market in the country, the AP reported today, March 13. According to Nathporn Chatusripitak, a government spokesman, Thai Ministry of Finance’s impetus for the proposition of new crypto regulation stems from a desire to prevent money laundering …

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The privately owned Thai Digital Asset Exchange (TDAX) is deferring the trading and registration of Initial Coin Offerings (ICOs) for two weeks while awaiting a soon-to-be revealed regulatory framework from Thailand’s Securities and Exchange Commision (Thai SEC), the Bangkok Post reported Monday, Feb. 26. The decision to postpone the ICO trading, even though there are …

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Veerathai Santiprabhob, governor of the central Bank of Thailand, has asked all banks in Thailand to stay away from cryptocurrency, Reuters reported yesterday, Feb. 13. According to Reuters, the central bank released a circular Monday that bans banks in Thailand from investing and trading in crypto, as well as participating in and creating exchanges and …

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Thai Ministry of Finance’s permanent secretary Somchai Sujjapongse thinks that the Bank of Thailand and Thailand’s Securities and Exchange Commission (SEC) need to officially warn customers of the risks of investing in crypto markets, as reported in the The Bangkok Post today, Feb.2. According to Sujjapongse, a working committee on cryptocurrencies, formed by the Bank …

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The Bank of Ayudha in Thailand has finished a Blockchain pilot, tapping one of the biggest names in the technology industry: IBM. The test aims to simplify the contract management process with the help of distributed ledger technology (DLT). Improved Related Party Transaction (RPT) The bank is currently the fifth largest in Thailand when it …

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Thailand-based Bank of Ayudhya (Krungsri), in partnership with tech giant IBM, has completed a blockchain pilot aimed to streamline the contract management process. According to the bank, the pilot, which was planned to rationalize the bank’s related party transaction (RPT) capability, resulted in improved transparency and data security, as well as speeding up operations, a press …

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