News
Kasikornbank has identified asset-backed DeFi as having the potential to create economic value for Thailand.
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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.
- News
While crypto volumes surge on Thailand’s licensed exchanges, P2P platforms appear to be falling out of favor
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Thailand’s central bank is calling for public comments on its proposed plan to launch a sovereign digital currency within the next five years.
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Secretary-general Ruenvadee Suwanmongkol said the commission will be offering a free training course for investors who have no experience trading in cryptocurrencies.
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Developed economies dominate the traffic rankings for the top DeFi protocols by TVL, with the U.S. and U.K. topping the charts.
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After issuing a warning against a Baht-pegged stablecoin produced by a South Korea-based firm, Thailand plans to introduce a series of regulations for stablecoins in 2021.
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The Baht-pegged stablecoin produced by Terra has come under fire from Thai bankers.
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The Thai SEC says the total number of crypto accounts rose by nearly 300% over the course of the last 180 days.
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SCB 10X, the venture arm of Thailand's oldest bank, is participating in an $80 million Series C fundraising round for institutional crypto custodian and digital asset platform Anchorage.
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Major Cineplex Group is starting to accept Bitcoin as part of a crypto pilot project.
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Financial regulators in Thailand may adjust the minimum annual income qualification for crypto investors amid public outrage.
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Thai investors who do not qualify for crypto trading under proposed SEC rules would still be able to invest through licensed fund managers.
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Some of Asia's largest banking institutions are working together on a “multiple” CBDC project, designed to cross borders and navigate regulations easier than fiat.
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Well-heeled Japanese crypto holders are being targeted by Thailand’s tourism industry.
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The SEC of Thailand is looking to establish qualifications for crypto investors as digital currency purchases increase.
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