News
Thailand froze three million bank accounts in an anti-scam crackdown, ensnaring users and prompting debate over whether Bitcoin offers a safer alternative.
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Thailand News
Thailand is a country in Southeast Asia with an area of 513,000 kilometers and a population of 68 million. Thailand has an emerging economy and is currently going through industrialization. However, Thailand is one of the major economies in Southeast Asia — second after Indonesia in terms of GDP. Thailand’s economy is based on computer components, the automotive industry, petroleum and agriculture. Bitcoin is legal in Thailand, though Thailand’s cryptocurrency exchanges and financial institutions are under some regulations. Thailand’s Bitcoin exchanges can only exchange digital currencies for Thai baht and need a Business Development Department license to perform such operations. Initial Coin Offerings are totally legal in Thailand and the SEC of Thailand even encouraged the funding of businesses with ICOs, but all those operations should be performed with the execution of all regulatory requirements.
- Explained
As the adoption of digital assets grows rapidly, there has been a significant increase in the amount of funds lost to scams and hacks.
- News
Thai police have arrested a South Korean man accused of helping a call center gang launder over $50 million in crypto into gold.
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The Thai government will allow tourists to exchange crypto for Thai baht and make electronic payments through e-money service providers.
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The Philippines SEC flagged OKX, Bybit, KuCoin and others for offering crypto services without authorization, warning of enforcement and app store bans.
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Thailand’s five-year tax break on crypto capital gains looks like a dream for investors, but the fine print reveals a strategic push for surveillance, platform control and regulatory dominance.
- Analysis
Bitcoin adoption grew considerably in June, with 26 firms adding it to their balance sheets; meanwhile, Bitcoin’s hashrate fell 15%.
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The consultation period comes as Thailand seeks to clarify regulations for the crypto industry.
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Thailand’s crypto income tax waiver applies to crypto sales made through licensed crypto asset service providers from 2025 to late 2029.
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KuCoin enters the Thai market with a fully licensed exchange after acquiring ERX, Thailand’s first SEC-supervised digital token platform.
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Thailand’s SEC has ordered Bybit, 1000X, CoinEx, OKX and XT.COM blocked nationwide, citing unlicensed operation and money-laundering concerns.
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Thailand plans to let tourists use crypto via credit cards while overhauling financial laws to align capital and digital asset markets.
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The Thai government says retail investors will get the chance to buy tokenized government bonds for as little as $3.
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Tether Gold has arrived in Thailand with a listing on Maxbit, an exchange backed by PTG Energy, a major Thai energy conglomerate.
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The Seychelles-based crypto exchange will offer crypto trading to Thai investors, but it faces stiff competition.
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