Thailand will regulate cryptocurrency as means of payment

The authorities are also considering a 15% tax on digital asset trading.

26.01.2022 - 11:05

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1 min

What’s new? The Securities and Exchange Commission of Thailand (SEC), the Ministry of Finance (MOF), and the Bank of Thailand (BOT) issued a joint press release discussing the regulation of digital assets. The report says that cryptocurrency as a means of payment poses great risks, “therefore, clear supervision of such activity is needed.”

The joint press release of BOT, SEC, and MOF

What are the authorities’ plans for regulation? The national government is considering introducing a 15% tax on digital asset trading by the end of this month. Although the country’s political parties have opposed the tax.

The SEC said it welcomes public comments and proposals on new rules for cryptocurrency until February 8. Sethaput Suthiwartnarueput, Governor of the Bank of Thailand, states that BOT considers both the risks and benefits of digital assets, including related technologies, and will build a regulatory framework based on them.

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