#Thailand News

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...

Major Bitcoin Exchange in Thailand Shuts Down

September 2, 2019 by Osato Avan-Nomayo at Bitcoin

Bitcoin Co. Ltd. says it will be shutting down its cryptocurrency exchange service in a shock move for a country that is seeing increasing levels of crypto commerce. There is no word yet on the reasons behind the decision but the company reportedly plans to pivot towards other business areas....

Thai Customs Adopt IBM’s Blockchain Platform for Shipment Tracking

August 30, 2019 by Ogwu Osaemezu Emmanuel at Blockchain

The Customs Department of Thailand has adopted TradeLens, IBM’s blockchain-powered digital trade platform that supports efficient and accurate container tracking and real-time information sharing among stakeholders in the supply chain. The agency firmly believes that blockchain integration will foster transparency and enhance its processes, reports Bangkok Post on August 29,...

Thai SEC Warns Crypto Traders About Bogus Investment Scam

August 25, 2019 by Aisshwarya Tiwari at Finance

Thai financial watchdog, the Securities and Exchange Commission (SEC), recently warned the public about a new form of investing scam, in which a bogus entity, masquerading as a regulated legal digital currency trading firm solicits traders into investing with it. This, according to a report by the Bangkok Post, August...

Thai Government to Integrate DLT, A.I and Emerging Technologies into the Digital Economy

August 12, 2019 by Ogwu Osaemezu Emmanuel at Blockchain

In a bid to improve the income, quality of life, and competitiveness of ordinary people in the society, Thailand's Digital Economy and Society Ministry (DE) intends to use innovative technologies like blockchain in developing mobile applications and e-commerce solutions over the next three months, reports Bangkok Post on August 11,...

A high-tech robot mecha stomping a washing machine cleaning money

Thai Financial Watchdog Declares war on Crypto-Fueled Money Laundering

August 5, 2019 by Ogwu Osaemezu Emmanuel at Regulation

Pol Maj Gen Preecha Charoensahayanon, the acting secretary-general of Thailand's Anti-Money Laundering Office (AMLO) believes Bitcoin and altcoins are a serious threat to the agency. As such, AMLO has pledged to prioritize the discovery of new hideouts for illegally obtained fiat converted to cryptoassets, according to a Bangkok Post report...

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