Tag: Thailand

The Crime Suppression Division (CSD) of the Thai police have clamped down on a group of fraudsters who orchestrated a Bitcoin scam scheme that succeeded in swindling Aarmi Otava Saarimaa, a 22-year old Finnish national, of over 5,000 bitcoins, as first reported by the Bangkok Post on August 13, 2018. Smooth Crypto Criminal According to a Bangkok Post report, Aarni…

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On July 31, 2018, Everex and Myanmar’s Shwe Bank announced a partnership to provide a blockchain-based solution to migrants. The deal will pave the way for the introduction of a blockchain-based remittance service that will allow migrants from Myanmar and Thailand to access cheaper remittance services. Remittance Market Overhaul This partnership is poised to introduce a cheaper remittance service to…

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The Thailand government is swiftly taking steps to adopt and implement cryptocurrencies and blockchain technology within its administration. Local reports on July 16, 2018 confirmed that a prominent securities body in Thailand is developing a digital token to facilitate settlement clearing of corporate bonds. Bond Coin to Streamline Current Processes According to The Bangkok Post, the Thai Bond Market Association…

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For several months, the Thai government has been hard at work formulating amenable laws for its cryptospace. In what seems like a flawless victory for cryptocurrency investors in the country, authorities have now officially confirmed that the previously stated ICO regulation takes effect on July 16, 2018. ICOs to be Thoroughly Screened According to the Thai SEC statement, there will…

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Even with the present crypto market slump, positive vibes are still emanating from the global cryptosphere. In the latest development, financial firms registered with Thailand’s Association of Securities Companies (ASCO) are looking to create a jointly-owned digital currency exchange. Joining the Crypto Bandwagon According to a Bangkok Post report on July 2, 2018, quite many companies in the Thai finance sector have…

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Widely known for a being a global tourism and hospitality destination, Thailand is looking to expand its tax revenue base by bringing its nascent crypto industry into the mainstream fold. A new law was passed recently with the specific target of regulating cryptos and digital assets, giving them an unparalleled level of government recognition. This has lessons and implications for…

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Following the Royal Decree by Thailand’s regulatory authorities on May 14, 2018, that cryptocurrencies are formerly digital assets, the Asian nation is set to take its local blockchain-based digital currency industry to the next level by showing five Initial Coin Offering (ICO) projects the green light to operate in the area, out of the 50 startups that filed for approval….

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Thailand’s Securities and Exchange Commision unveiled the details of the country’s regulatory framework for digital assets and initial coin offerings (ICOs). The paper includes relevant fees, taxes, licensing requirements, and most importantly – seven approved cryptocurrencies. Thailand’s Cryptocurrency Push According to a Bangkok Post report on June 9, 2018, the Thai SEC held a meeting on June 7 to discuss…

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Dr. Veerathai Santiprabhob, the Governor of the Bank of Thailand, announced the South East Asian country would use blockchain technology to improve existing banking applications. Blockchain Technology Gaining Momentum Santiprabhob made the announcement on June 5, 2018, at the Nomura Investment Forum in Singapore where he also expanded on the details in his Keynote Address concerning the Thai Economy and…

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2018 continues to be a year of cryptocurrency regulations as a slew of nations have started putting the finishing touches to the rules that would govern their blockchain and digital currency space. Now, Thailand has announced that its royal decree to regulate virtual currencies has come into effect. Cryptocurrencies are Digital Assets Back in February 2018, BTCManager reported that Thai…

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