Cryptocurrency regulation drafts passed by Thai Cabinet

Asia Cryptocurrency Regulations Thailand

Two royal decree drafts concerning cryptocurrencies regulations have been passed by the Cabinet of Thailand.

Two new, cryptocurrency related drafts deal with ICOs and crypto capital gains taxation. While specific tax rates have not been revealed, according to the Bangkok Post it’s expected to fall between 10 and 15 per cent.

As a form of legislation, royal decrees are most commonly used to regulate emerging issues concerning public safety. They need further parliamentary approval before they become a law. In the case of the aforementioned drafts, feedback from the Ministry of Thailand, the country’s central bank, Anti-Money Laundering Office and other regulators will also be taken into consideration.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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