#Thailand News

Thai SEC proposes new rules for crypto custodians

Thai Securities Regulator Propose Fresh Legislation for Crypto Custodians

August 25, 2021 by Anna Larsen at Regulation

Cryptocurrencies can no longer be classified as a niche sector in light of the tremendous development made. At the moment, the primary worry with this emerging industry seems to be with regulations that define how the technology fits into our present economy. As of now, Thailand's Securities and Exchange Commission...

Thailand - Central Bank Partners with SCG for CBDC Pilot Test

Thailand Central Bank to Begin Pilot Test of CBDC in 2022

August 19, 2021 by Adeniyi Olowoporoku at Regulation

The Bank of Thailand (BOT) has revealed that it plans to develop and test its retail CBDC in the second quarter of 2022. This development was revealed by Vachira Arromdee, the assistant governor of BOT's Financial Markets Operation Group. She added that the initial pilot tests would be conducted within a...

Thailand’s Central Bank Cautions Against Using Crypto as a Means of Payment

July 10, 2021 by Anthonia Isichei at Regulation

The Bank of Thailand (BOT) has issued a warning against using digital assets as a payment method, stating it could work with the country's Securities and Exchange Commission (SEC) if crypto payments become widespread. BOT Against the Widespread Adoption of Crypto for Payments The BOT made the warning in a...

Thailand's SEC to Ban Exchanges from Listing Certain Types of Tokes Including Meme Coins and NFTs

Thailand: SEC to Ban Trading of NFTs, Meme Coins, Fan Tokens

June 13, 2021 by Aisshwarya Tiwari at Regulation

The Thai financial regulator is having none of the meme coins, NFTs, fan tokens, and exchange tokens. Thai SEC Prohibits Trading of Meme Tokens In an announcement made recently, the Thai financial regulator, the Securities and Exchange Commission (SEC) stated it was putting a ban on several of the hottest...

Messari - DeFi Can Continue to Grow as ‘Useless’ Top 30 Coins Wither

Thailand: SEC Contemplates Regulating DeFi

June 1, 2021 by Aisshwarya Tiwari at DeFi

Thai financial watchdog mulls regulating decentralized finance (DeFi). Trying to Regulate DeFi According to a report by The Bangkok Post published on June 1, Thailand’s financial regulator, the Securities and Exchange Commission (SEC) is keeping a close eye on DeFi protocols and might consider issuing licenses to DeFi projects that...

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 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)...

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