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Thailand’s SEC moves to withdraw license from Zipmex

Thailand's SEC moves to withdraw license from Zipmex

Thailand’s big financial watchdog, the SEC, is showing Zipmex the door, pulling the plug on its license to run its digital cash shop. This is another lump in a string of bad breaks for Zipmex in Thailand, shaking up the scene on Feb. 23. Basically, Zipmex has been skating on thin ice, and now, it’s […]

Zipmex to shut down operations in Thailand immediately

Zipmex Thailand

The digital realm is buzzing with the latest shake-up: Zipmex, the cryptocurrency exchange that once soared in the digital skies, is now mandated to halt its operations in Thailand with immediate effect. This drastic measure comes straight from Thailand’s Securities and Exchange Commission (SEC), throwing a wrench into the workings of the crypto community. Zipmex […]

Thailand SEC revamps crypto rules, boosts investor access

Thailand

Bangkok, Thailand – In a significant move towards embracing the burgeoning digital asset market, Thailand’s Securities and Exchange Commission (SEC) recently announced a revised regulatory framework. This update marks a progressive shift in the country’s approach to cryptocurrencies and related digital assets, aiming to balance market development with investor protection. Enhanced access for retail investors […]

Thailand SEC updates rules for digital token investments

Thailand

Thailand’s Securities and Exchange Commission (SEC) has recently updated its investment criteria for digital tokens. This revision, effective from January 16, 2024, marks a pivotal shift in the regulatory landscape for digital assets in Thailand, balancing investor protection with market development. Relaxation of investment limits The SEC has removed certain investment limitations that previously applied […]

Binance launches in Thailand, challenges dominant local exchange Bitkub

Binance

Global cryptocurrency exchange Binance has officially opened its doors to the general public in Thailand, posing a potential threat to the local crypto exchange landscape, which Bitkub has long dominated.  Binance TH, as the new platform is called, announced the expansion on January 16th, revealing that it has introduced a dedicated order book for Thai […]

Controversy surrounds Thailand’s plan to distribute digital baht as economic stimulus

Thailand

The Thailand government’s proposal to distribute 10,000 baht ($286) to over 54 million citizens as an economic stimulus through digital wallets has ignited a debate following the release of an unpublished government report.  While the Office of the Council of State initially expressed reservations about the funding methods, the situation has taken a turn with […]

Global Web3 adoption accelerates as MetaMask partners with six countries

web3 metamask

MetaMask, a renowned software cryptocurrency wallet, has significantly forged new partnerships in six countries: Vietnam, the Philippines, Indonesia, Thailand, Egypt, and Chile to foster the Web3 ecosystem. This move extends MetaMask’s reach and signals a strategic shift towards embracing the burgeoning potential of Web3 in diverse markets. Localized collaborations: Empowering users worldwide MetaMask collaborated with […]

Thailand overtakes giants, emerges a crypto titan – HashKey Report 

Thailand

HashKey Capital, a renowned Asian crypto fund, published its annual report in Singapore on December 7, 2023, showcasing Thailand’s outstanding growth in the global crypto industry.  The report highlights Thailand’s prominent role in Asia’s crypto scene, which has been fueled by widespread adoption, a significant increase in digital asset trading volume, favorable regulations, and a […]

Binance faces Thai regulatory hurdles amid $4.3 billion settlement

Binance

The world’s largest cryptocurrency exchange, Binance, faces significant regulatory scrutiny in its latest expansion effort into Thailand. Despite a recent $4.3 billion settlement with US authorities over anti-money laundering and sanctions violations and the stepping down of CEO Changpeng Zhao, Binance continues to pursue its global growth strategy. This time, the focus is on a […]

K-Bank acquires major stake in Satang crypto exchange, eyes 20% Thai market share by 2024

Thailand

Thailand’s financial sector witnessed a pivotal development as Kasikorn Bank, popularly known as K-Bank, announced the acquisition of a staggering 97% share in Satang Corporation, a key player in the country’s crypto exchange market. The deal, worth 3.705 billion Thai baht (approximately $102.8 million), was orchestrated through K-Bank’s new subsidiary, Unita Capital, specifically designed to […]

Thailand ups efforts to stimulate fragile economy amid recession worries

Thailand ups efforts to stimulate the fragile economy amid recession worries

The Thailand government is set to implement measures to tighten tax regulations about overseas income. This move is part of the new government’s efforts to reduce income inequality and generate additional revenue for initiatives to stimulate the Southeast Asian economy. Prime Minister Srettha Thavisin announced that the finance ministry recently introduced more stringent rules concerning […]

Thailand’s KBank launches $100 Million fund for Web3 and AI startups

Thailand's KBank launches $100 Million fund for Web3 and AI startups

Thailand’s financial giant, Kasikorn Bank, commonly known as KBank, has made a new move by earmarking $100 million for a venture capital fund. This fund, known as KXVC, is an initiative spearheaded by the bank’s technological division, Kasikorn Business Technology Group (KBTG). With a global reach that includes the Asia Pacific region, the United States, […]

Five suspects captured in Thailand for $76M crypto investment fraud

JasperArt 2023 09 11 18.21.09 upscaled

In a significant development, a joint international operation led to the arrest of five individuals suspected of orchestrating a massive cryptocurrency scam. The suspects, four Chinese nationals and one Lao citizen, are now facing multiple charges, including public fraud and money laundering. The operation, spearheaded by Thailand’s Cyber Crime Investigation Bureau (CCIB), involved cooperation from […]

Malaysia, Indonesia, and Thailand promote domestic currency use in bilateral transactions

Malaysia, Indonesia, and Thailand improving domestic currency use in bilateral transactions (1)

Bank Negara Malaysia (BNM), Bank Indonesia (BI), and Bank of Thailand (BOT) have collectively entered into three bilateral Memorandum of Understanding (MoUs) aimed at enhancing collaboration in advancing the utilization of domestic currencies in bilateral transactions. In a combined statement, the central banks highlighted that these MoUs constitute the establishment of a Framework for Cooperation […]

Thailand’s central bank increases key rate to 2.25%, a 9-year high

Thailand's central bank increases key rate to 2.25%, a 9 year high

Thailand’s central bank has significantly increased its key interest rate, reaching the highest level in nine years. However, alongside this move, there are indications that the bank might be approaching the conclusion of its tightening measures. The Monetary Policy Committee of the Bank of Thailand voted to raise the one-day repurchase rate by 25 basis […]

Thailand imposes stricter crypto regulations, prioritizing investor protection

Thailand imposes stricter crypto regulations, prioritizing investor protection

Thailand’s Securities and Exchange Commission (SEC) has enacted a series of guidelines for digital asset service providers. Following a similar action by Singapore, Thailand has become the second Southeast Asian country to ban crypto exchanges from offering lending services​. This development is the result of discussions that began in September 2022, with the primary objective […]

Thai politician promises $300 crypto airdrop if elected Prime Minister

Thai Politician Promises $300 Digital Currency Airdrop if Elected Prime Minister

Srettha Thavisin, a real estate mogul turned candidate, is offering every citizen in Thailand 10,000 Thai Baht (approximately $300) in digital currency if his political party, Pheu Thai, wins the upcoming general election in May. Thavisin is promising a basic-income style economic stimulus package via “digital currency” to provide some relief to Thais who are […]

Thailand’s SEC to soften retail investment restrictions on initial coin offerings

Thailand's SEC to Soften Retail Investment Restrictions on Initial Coin Offerings

The Thai Securities and Exchange Commission (SEC) has announced plans to relax restrictions on retail investments in initial coin offerings (ICOs) to drive digital investment growth. The regulator intends to raise the limit of 300,000 baht ($8,800) for asset-backed ICOs per person, allowing for larger investments in real estate and infrastructure-backed ICOs. According to the […]

Thailand’s SEC looks to clamp down on crypto lending and staking services

Thailand SEC looks to clamp down on crypto lending and staking

Thailand’s Securities and Exchange Commission (SEC) has opened a public hearing on a draft regulation that would prohibit digital asset business operators from providing or supporting deposit-taking and lending services. What Thailand hopes to achieve The proposed regulation seeks to reduce risks associated with these services and clarify the scope of supervision of digital asset […]

Thailand’s Cabinet approves tax waivers for investment tokens

Thailand offers tax breaks for companies issuing investment tokens

The Thai Cabinet has approved a waiver of corporate income tax and value-added tax for companies issuing digital tokens for investment, according to government spokeswoman Rachada Dhnadirek. This offers businesses an alternative method of accessing capital markets and raising funds, in addition to traditional methods such as debentures. The government estimates that digital token offerings […]

Thailand is planning to launch its first fully digital banks in 2025

Thailand

According to a report from the media outlet Bloomberg, Thailand will make it possible for the country’s first virtual banks to begin offering their services in the year 2025 as part of an effort to increase market competition, expand the availability of loans, and reduce transaction fees for companies and individuals. Per the Assistant Governor […]

Huobi stops operating in Thailand under pressure from regulators

Huobi

The crypto company, Huobi recently closed its operations in Thailand after having a legal problem with national regulators. According to reports, the Thailand Securities Agency SEC canceled the exchange license. Huobi Thailand has had a long journey in the crypto market, offering its services in Japan, China, South Korea, and the United States. Even since […]

Thailand imposes 15% capital gains tax on cryptocurrencies

Thailand

TL;DR Breakdown Thailand finally passed a crypto regulation framework to see crypto stakeholders paying a 15% tax on capital gains. The country’s government aims to make cryptocurrencies a better trading option for its citizens following last year’s massive adoption rates. Per reports, Thailand is now among few countries with a working crypto regulation framework. This […]

Thailand eases out tax conditions over digital assets

Thailand

TL;DR Breakdown Thailand moves to relax crypto taxes over trading until the end of 2023. Crypto tax exemptions aim to provide a boost to the local crypto community. Thailand continues to become a pro-digital asset economy. Several countries are trying out new ways and mechanisms to incorporate cryptocurrencies into their economic infrastructure. The modern world […]

Thailand halts crypto taxation plans

Thailand

TL;DR Breakdown • Binance plans to operate in Thailand if the government eases its crypto regulations.• The country in Asia seeks to take advantage of crypto-mining. After negotiations with national regulators, Thailand appears to end the first month of 2022 with a new proposal for cryptocurrencies. The Asia region stood out for regulating tax payments […]

Thailand embraces crypto-mining with transparent policies

Thailand

TL;DR Breakdown • The country in Asia goes against all the anti-crypto ideals.• Thailand is the go-to haven for small crypto mining farms. After China banned the cryptocurrency market and crypto-mining, several countries have become the focal point for these outgoing companies, including Thailand. According to reports, Thailand has been receptive to mining farms, positively […]

Crypto mining grows daily in Thailand due to China regulations

Crypto Mining

TL;DR Breakdown • Thailand hosts all crypto-mining farms in the world.• Crypto Mining could be legalized in Thailand by 2022. Less than three days before the end of 2021, there is still talk about crypto mining in China and how the country in Asia left a great space for the new financial industry. For months […]

Bank of Thailand warns of price fluctuation

Bank of Thai

TL;DR Breakdown Bank of Thailand claims cryptocurrencies are very volatile and need to be regulated. The institution warns users who utilize digital assets.  They plan to help to regulate cryptos in collaboration with other institutions. Officials from the Bank of Thailand have alerted crypto users that they should be ready to deal with price fluctuations. […]

Thailand is edging closer to crypto tourism move; only approval needed

Thailand

TL;DR Breakdown  The Tourism Authority of Thailand is on the verge of launching a digital token to boost crypto tourism.  All the structures and infrastructures are set with only parliament approval remaining.  The private sector is willing to adopt the token, but the authorities must work on regulations. Thailand is set to launch its virtual […]

Thailand regulator mulls revoking license of Huobi exchange

Crypto ban

TL;Dr Breakdown Thailand regulator makes move to revoke Huobi license. Regulator has warned Huobi severally as exchange kept demanding for more time. Spain regulators also hunting for Huobi and 11 other crypto firms. Thailand regulators are preparing to take the bold step to revoke the license issued to top crypto exchange firm, Huobi. Thailand’s Securities […]

Binance crackdown continues as Hong Kong says it is unlicensed

Binance crackdown

TL;DR Breakdown Binance crackdown continues as Hong Kong says it is unlicensed to operate in the city Hong Kong came after Binance specifically because of its stock token product Changpeng Zao plays down clampdown on Binance In another Binance crackdown, Hong Kong SFC announced on Friday that the exchange is not licensed or authorized to […]

Thailand SEC seeks to regulate and protect 500,000 crypto traders

kyrgyz republic

TL;DR Breakdown Thailand SEC seeks a directive to regulate and protect crypto investors in the country. Younger people are increasingly investing in digital currencies in Thailand. While countries like Nigeria and India have a hard stance for digital currencies, the Securities and Exchange Commission (SEC) of Thailand has said it’s urgently looking to regulate digital […]

Upbit establishes Thailand presence as Bitkub faces technical hurdles

flag of

TL;DR Breakdown: Upbit has launched a new exchange for the Thailand market. The new exchange comes as the market leader, Bitkub, faces technical difficulties. A leading cryptocurrency exchange in South Korea, Upbit, has expanded its presence in Asia following the launch of a crypto trading unit in Thailand. This is coming a few days after […]

Now-defunct BX exchange faces a lawsuit from Thailand SEC

hammer

TL;DR Breakdown:  Thailand’s BX exchange has been charged by the country’s SEC in a criminal lawsuit filed on Tuesday. The SEC alleged that the exchange moved users’ assets to an unauthorized wallet, which is an offense. BX exchange (or Bitcoin Company Limited), the first digital currency exchange in Thailand, is currently facing a lawsuit from […]

Thai SEC revises net capital rules to support crypto industry growth

Thai SEC revises net capital rules to support crypto industry growth

Thai SEC has revised its net capital laws regarding digital asset firms. The decision comes following rise in trade volume on the Stock Exchange of Thailand Firms carrying crypto can now add up to 50 percent of the assets value when calculating their NC. The Thai Securities and exchange commission has revised its net capital […]

Thailand’s government savings bond launches on IBM Blockchain

blockchain

A publication on Monday has informed that the BOT, Thailand’s central bank, has launched a government savings bonds platform on IBM blockchain. The development follows the partnership between IBM blockchain, BOT, and seven other institutions in the country. The development will facilitate the processes of bond issuance for the local investor, including the issuers. Thailand […]

Bitkub partners with top Thai YouTubers to boost popularity of cryptos

Fight against COVID Waves starts crypto charity campaign with USDT

Bangkok-based digital currency exchange, Bitkub, has reached a partnership with the top five YouTubers in Thailand to boost the awareness and popularity of cryptocurrencies in the country. The YouTube influencers will be offering digital tokens to the subscribers or fans, which can be traded in the non-fungible token marketplace. Bitkub introduces fan token ($FAN)  According […]

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