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BlockchaINVEST • January 7 - March 11, 2019

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Tag: Thailand

Thai Cryptocurrency Exchange Set to Launch Security Token (STO) Offering Despite Bitcoin Price Slump

Category: Altcoins, Business, Exchange, Finance, Investment, News

Thai Cryptocurrency Exchange Set to Launch Security Token (STO) Offering Despite Bitcoin Price Slump

Despite the chilling crypto winter, bitcoin-friendly Thailand remains enthusiastic and determined to hodl on. As first reported by Nikkei Asian Review on December 4, 2018, the highly reputed Thai cryptocurrency exchange, Satang Corp. has announced plans to launch its security token offering (STO) by early 2019, and the government of Thailand fully supports it. Satang Exchange Joins the STO Movement…

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Thai Revenue Department Tests Blockchain Technology to Track VAT Payments

Category: Adoption, Blockchain, Finance, News, Regulation

Thai Revenue Department Tests Blockchain Technology to Track VAT Payments

Blockchain technology is being tested by the Revenue Department of Thailand to keep track of value-added tax (VAT) payments, reports Bangkok Post, December 3, 2018. If successful, Thailand could become the first country in the world to utilize distributed ledger technology (DLT) for tax purposes. Leveraging Blockchain Technology to Fight Tax Evasion As previously reported by BTCManager on November 6,…

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Thai Siblings Accused of $24 Million Crypto Scam Plead “Not Guilty”

Category: Bitcoin, Crime, Finance, Investment, News

Thai Siblings Accused of $24 Million Crypto Scam Plead “Not Guilty”

On November 12, 2018, The infamous Thai siblings accused of duping a Finnish man for bitcoin worth $24 million have pleaded not guilty in court over money laundering charges. The siblings were first arrested in August this year for engineering a cryptocurrency scam. The Sequence of the Crypto Scam According to local news outlet Bangkok Post, the trio, Prinya Jaravijit,…

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Crypto Regulation Roundup: More Cryptocurrency Control Urged in South Korea and Thailand, France Plans to Ease Crypto Taxes

Category: Altcoins, Bitcoin, Blockchain, Business, Finance, News, Regulation

Crypto Regulation Roundup: More Cryptocurrency Control Urged in South Korea and Thailand, France Plans to Ease Crypto Taxes

South Korea’s lawyers have lobbied the government to establish a better legal framework around blockchain that would help develop the industry and protect investors. More regulation was also urged in Thailand, where on November 7, 2018, the Deputy Prime Minister has called for more measures to control cryptocurrencies and prevent them from being used to fund terrorism. Back in Europe,…

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Thai Authorities Set to Use Blockchain Technology To Fight Tax Evasion

Category: Altcoins, Blockchain, Finance, News, Platform, Tech

Thai Authorities Set to Use Blockchain Technology To Fight Tax Evasion

In a bid to curb the menace of tax evasion and ensure workers pay their correct tax amounts, Thailand’s Revenue Department has announced it would use distributed ledger technology (DLT) and machine learning for tax avoidance probes, according to a Bangkok Post report on November 5, 2018. Thai Authorities Unleash DLT on Tax Evaders According to sources close to the matter,…

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Thailand Warns Public from Investing in 9 Unregistered ICOs

Category: Altcoins, Business, Exchange, Finance, News, Regulation

Thailand Warns Public from Investing in 9 Unregistered ICOs

Thailand’s Securities and Exchange Commission (SEC) has forbidden the general public from investing in nine unregistered initial coin offerings (ICOs) and cryptocurrencies. The companies in question failed to duly register their business, despite the introduction of a framework to facilitate cryptocurrency investing, reported Bangkok Post on October 27, 2018. Nine ICOs Held An investigation by the SEC found out the…

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Thai Energy Authorities Take Stand against Tokenized Solar Energy Platforms

Category: Altcoins, Blockchain, Business, Finance, News, Regulation

Thai Energy Authorities Take Stand against Tokenized Solar Energy Platforms

Commodifying the intangible and making it available to the private sector is essentially what blockchain technology has promised since 2008. A primary use case, among a froth of many, has been the buying and selling of tokenized energy between non-governmental parties. In Thailand, however, federal energy authorities are taking a stand for intermediaries according to September 6, 2018, reports. From…

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Finnish Bitcoin Scam Victim Withdraws Case against Thai Fraudsters

Category: Bitcoin, Crime, News, Regulation

Finnish Bitcoin Scam Victim Withdraws Case against Thai Fraudsters

Aarni Otava Saarimaa, a 22-year old Finnish national who fell victim to a bitcoin scam scheme organized by Thai fraudsters in June last year, has reached a “satisfactory” agreement with the criminals and has requested a withdrawal of the case, as first reported by Bangkok Post on September 4, 2018. Complaint Withdrawn According to the report, Saarimaa, a Finnish investor…

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Thailand’s Anti Money Laundering Office Set to Create Own Cryptocurrency Wallet for Confiscating Ill-Gotten Cryptoassets

Category: Altcoins, Bitcoin, Blockchain, Business, Development, Exchange, Finance, News

Thailand’s Anti Money Laundering Office Set to Create Own Cryptocurrency Wallet for Confiscating Ill-Gotten Cryptoassets

In a bid to fight crypto-linked money laundering activities by bad actors in Thailand, the nation’s Anti-Money Laundering Office (AMLO) has said it would create a cryptocurrency wallet to enable it to seize digital currencies from cyberpunks convicted of DLT-based virtual currency-related crimes, as first reported by local news source, The Nation on September 3, 2018. AMLO Bitcoin Wallet? According…

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Proactive Cryptocurrency Regulation: The Thai Example

Category: Altcoins, Bitcoin, Blockchain, Business, Finance, News, Regulation

Proactive Cryptocurrency Regulation: The Thai Example

Amid unprecedented regulatory ambiguity regarding the future of cryptocurrency legislation in the United States, an unlikely example of what is possible with effective regulation is unfolding in an unlikely place. According to a September 1, 2018, report, Thailand, which is best known for being Southeast Asia’s tourism hub is busily laying out a comprehensive regulation regime and even planning its…

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