#Thailand News

Thai SEC Begins Public Hearing On Proposed Cryptocurrency Regulations

Bank of Thailand Set to Regulate Stablecoins, Says Bank Official

March 21, 2021 by Adeniyi Olowoporoku at Regulation

The Bank of Thailand (BOT) is set to draft regulations on stablecoins by the end of 2021. This comes following growing criticism from financial regulations regarding unlicensed stablecoins issued by private companies. Thailand Consulting With Stakeholders on Stablecoins Regulation This latest development was revealed by the Central Bank's assistant governor,...

Thailand’s largest movie theater chain accepts Bitcoin

Thailand: Movie Enthusiasts Can Now Pay for Tickets using Bitcoin (BTC)

March 5, 2021 by Dalmas Ngetich at Bitcoin

In the first pilot project in Thailand's entertainment scene demonstrating virtual currencies' potential, Major Cineplex Group is collaborating with Zippex and RapidZ. Clients can now buy movie tickets using Bitcoin and digital cryptocurrencies, adapting to the "new normal lifestyle," local news outlet Siam Rath on March 5 reports. Thailand's Crypto...

Thailand SEC Allays Fears Over Controversial Crypto Proposal

March 2, 2021 by Adeniyi Olowoporoku at Regulation

Thailand Securities and Exchange Commission (SEC) has allayed concerns regarding some of the requirements in its crypto proposal draft plan. This was in response to the uproar from crypto stakeholders about certain aspects of the proposed crypto framework. Thai SEC Responds to Crypto Regulatory Controversy The crypto proposal draft released...

Thai SEC Begins Public Hearing On Proposed Cryptocurrency Regulations

February 25, 2021 by Adeniyi Olowoporoku at Regulation

The Securities and Exchange Commission of Thailand has requested a public dialogue on new cryptocurrency regulations. This, according to the regulatory body, is part of its plans to have an inclusive digital-asset framework. Public Discourse part of Proposed Regulatory Framework The Thai SEC revealed this proposal in a press release...

Thailand Seeking to Adopt Crypto Adoption in Tourism Industry

February 19, 2021 by Anthonia Isichei at Regulation

Thailand's tourism agency is looking to introduce cryptocurrency into the tourism industry, as part of its plans to attract international tourist crypto holders. Thai Tourism Agency Targets Japanese Crypto Travelers According to the Bangkok Post on Friday (Feb. 19, 2021), the Tourism Authority of Thailand (TAT), under the country's Ministry...

Thailand: SEC Mulling Establishing Qualifications for Trading Cryptocurrencies

February 16, 2021 by Aisshwarya Tiwari at Regulation

The Thai financial regulator is keen on establishing qualification criteria for retail crypto investors. Flood of Crypto Investors According to a report published by the Bangkok Post on February 14, the Thai Securities and Exchange Commission (SEC) is set to conduct a public hearing this month to determine qualifications for...

Thailand’s Finance Minister Warns About Excessive Crypto Speculation

February 12, 2021 by Anthonia Isichei at Regulation

Thailand’s Finance Minister Arkhom Termpittayapaisith has expressed concerns over the exponential growth in cryptocurrency trading activities in the country. Crypto Speculation Could Hurt Thailand’s Capital Markets According to Bloomberg, Termpittayapaisith speaking at a capital market conference on Thursday (Feb. 11, 2021) noted that excessive crypto speculation could negatively affect the...

Thailand’s Stock Exchange Excludes Cryptos from Upcoming Digital Asset Exchange Platform

January 20, 2021 by Anthonia Isichei at Regulation

Thailand’s stock exchange is preparing to launch a new trading platform that would not include cryptocurrencies. Crypto Exempted From SET’s Planned Trading Platform According to the Bangkok Post on Wednesday (Jan. 20, 2021) the Stock Exchange of Thailand (SET) announced plans to launch a digital assets trading platform. The upcoming...

Thai Tax Collector Eyes Blockchain Adoption for Improved Revenue Collection

December 7, 2020 by Osato Avan-Nomayo at Blockchain

Rather than raise taxes, Thailand’s Excise Department is looking to adopt blockchain technology for improved tax collection. The move is part of plans to enhance Thailand’s internally generated revenue (IGR) metrics as the country moves towards more sustained economic recovery. Blockchain Tax Collection System Coming in 2021 According to the...

Thailand - Central Bank Partners with SCG for CBDC Pilot Test

Thailand: Central Bank Deploys CBDC to Large Corporations

July 16, 2020 by Anthonia Isichei at Regulation

Thailand’s central bank is continuing developments on the central bank digital currency (CBDC) project as the apex bank will test its CBDC for transactions among large businesses. Thailand’s CBDC Reaches Third-Stage Development According to a report by the Nation Thailand on Thursday (July 16, 2020), the Bank of Thailand (BOT)...

Thailand: Central Bank Partners with SCG for CBDC Pilot Test

June 19, 2020 by Osato Avan-Nomayo at Regulation

Thailand’s central bank in partnership with SCG — one of the country’s largest conglomerates — is set to run a pilot test for a central bank digital currency (CBDC). Thailand Moving Forward with Digital Currency Plans According to the Bangkok Post, SCG has signed a memorandum of understanding (MoU) with...

Thailand Government Issues Blockchain-Powered Savings Bonds

June 17, 2020 by Anthonia Isichei at Blockchain

The Public Debt Management Office (PDMO), under Thailand’s Ministry of Finance, will be utilizing Krung Thai Bank’s (KTB) blockchain platform to sell government bonds to the general public. Thailand to Sell Government Bonds via Blockchain According to a report by a local news outlet The Nation Thailand, on Tuesday (June...

Blocks on a chain between large electrical wire polls. Orange sunrise/sunset background Japan’s Energy Sector Moves to Adopt Blockchain Technology

Power Ledger Expands Digital Energy Trading Business to Thailand

May 25, 2020 by Aisshwarya Tiwari at Blockchain

Australian energy trading software firm and blockchain project Power Ledger has inked a deal with the Thai Digital Energy Development (TDED) to launch a digital energy trading business in Thailand. This, according to a report by iTWire, May 25, 2020. Establishing a Digital Energy Trading Business In a bid to...

Smartphone with Ripple coming out of the screen

Thailand’s Oldest Bank Launches Mobile Banking with Ripple

January 10, 2020 by Ashwath Balakrishnan at Altcoins

Siam Commerical Bank, a 112-year-old financial institution, announced a mobile banking interface that facilitates cross-border transactions at a lower cost. Asia is the world leader in mobile banking with China and Thailand boasting 86 percent and 67 percent mobile penetration respectively. This is an important move for Ripple as they...

Thailand’s Securities Regulator will Update Laws to Cultivate Digital Asset Innovation

November 26, 2019 by Ashwath Balakrishnan at Regulation

The Thailand Securities and Exchange Commission (SEC) has announced they are looking into amending the royal decree issued for digital assets in May 2018. According to the Bangkok Post, the SEC has already given certain crypto companies permission to legally operate and serve customers in the region, November 25, 2019. Light...

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