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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...

A Blockchain-Based Excise System Promises Efficiency to Thailand’s Oil Industry

November 25, 2019 by Ashwath Balakrishnan at Blockchain

Blockchains are being used across the world for their ability to serve as a robust accounting ledger that can be shared and distributed in real-time across the world. According to the Bangkok Post, the Thai excise department is in talks with Krungthai Bank (KTB) to launch a blockchain-enabled system to...

Thailand: Analyzing the Mystery Closure of Bitcoin Co (bx.in.th)

September 18, 2019 by Edoardo Vecchio at Bitcoin

An article published by the Bangkok Post speculates some hypotheses that may have led to the closure of the well-known exchange Bitcoin Co earlier this month. Contention As reported by BTCManager on September 2, the Thai exchange Bitcoin Co (bx.in.th) unexpectedly closed its doors leaving its users in a mix...

Thailand: BX Bitcoin Exchange Shutdown Attributed to Stringent Regulations

September 6, 2019 by Osato Avan-Nomayo at Bitcoin

More updates have emerged regarding the closure of one of Thailand’s largest Bitcoin exchanges, reports the Bangkok Post. Sources say the move was due to the platform not being keen on complying with some of the more stringent anti-money laundering (AML) provisions set forth by regulators. Providing Customer Information As...

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