Thai crypto regulations come into force

Asia Regulations Thailand

With its yesterday’s publication in Thailand’s Royal Gazette, the recently announced regulations of cryptocurrency transactions come into force.

According to the new regulations a registration with the Thai Security Exchange Commission (SEC) required from all sellers of cryptocurrencies, with a grace period set at 90 days. Prison terms of up to two years, as well as fines of up to double the value of the transaction and no less than 500,000 baht (about $15,700 at the time of writing), await those who fail to register.

According to Thai Finance Minister Apisak Tantivorawong the new framework is not aimed at curbing cryptocurrency activities but are designed to protect investors and prevent illicit use of cryptos.

About the author

Mark Knowles

Mark Knowles

Coinlaw Multi-Jurisdiction Blockchain News
Mark Knowles is the Executive Editor of coinlaw.io
With more than a decade of experience as a journalist and editor, Mark has now turned his focus to the blockchain and cryptocurrency revolution that is currently reshaping the global economy. As Executive Editor at Coinlaw Mark is working to create a website that is a hub for the international crypto community to find the latest legal news, legislative changes and expert opinion from across the industry. Contact him at [email protected] or through mobile on +66 (0) 98 705 2716.

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