Briefing

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Thailand’s regulatory framework governing cryptocurrencies and ICOs took effect May 13, 2018

May 15, 2018

Briefing:
  • Cryptocurrency Regulation – Regulatory framework governing cryptocurrencies and ICOs in Thailand took effect on May 13, 2018 by royal decree
  • Regulating Authority – Thai Security Exchange Commission (SEC) responsible for regulating cryptocurrencies and ICOs
  • SEC Registration – Requires sellers and issuers of digital assets or tokens to register with SEC within 90 days, otherwise face jail time up to two years, penalty of twice the transaction value or at least 500,000 baht (about $15,700)
  • Law Expansion – Compels domestic crypto exchanges, as well as independent crypto brokers and dealers, to register with relevant authorities
  • Taxation – Plans to collect capital gains tax of up to 15% on digital asset profits

Image Source: Pixabay

Image Source: Pixabay

Accelerator: Blockchain
Sector: Financial Services
Organization: Thailand Securities Exchange Commission
Sources: 

Original Publication Date: May 14, 2018

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