Altcoins Talks - Cryptocurrency Forum
Further Discussions => Legality & Taxation of Cryptos => Topic started by: mskumar on May 17, 2018, 02:14:18 PM
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2018 continues to be a year of cryptocurrency regulations as a slew of nations have started putting the finishing touches to the rules that would govern their blockchain and digital currency space. Now, Thailand has announced that its royal decree to regulate virtual currencies has come into effect.
Cryptocurrencies are Digital Assets
Back in February 2018, BTCManager reported that Thai authorities were on the verge of legalizing initial coin offerings (ICOs) in the Asian nation, in a manner that would encourage innovation, while protecting investors optimally.
“The SEC Thailand encourages access to funding for businesses, including high potential tech startups, and realizes the potential of ICO in answering startups’ funding needs. In cases where an ICO constitutes an offering of securities, the issuer will need to comply with applicable regulatory requirements under the SEC Thailand’s purview,” the SEC declared.
According to the Bangkok Post, the royal decree for the regulation of cryptocurrencies, a 100-section law, was published in the nation’s Royal Gazette on May 13, 2018.
Per the Bangkok Post, the latest regulation defines cryptocurrency as digital assets and digital tokens, as such, they must come under the purview of Thailand’s Security Exchange Commission (SEC). With this latest development, all crypto-related businesses are required to register with the SEC within 90 days or face legislative consequences.
SOURCE:https://btcmanager.com/thailand-successfully-regulates-cryptocurrencies-and-initial-coin-offerings/?utm_source=onesignal&utm_medium=push (https://btcmanager.com/thailand-successfully-regulates-cryptocurrencies-and-initial-coin-offerings/?utm_source=onesignal&utm_medium=push)
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this is definitely good news!!
Thailand is leading the way!! i already loved the country and it's people, but now i think i'll have to move there ;D
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It is very unexpected