Thailand-based crypto exchange Satang has set a goal to raise nearly $10 million in a coming Security Token Offering, the funds of which it will invest in devel...
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.
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Thailand’s Revenue Department is conducting tests of a blockchain system for tracking value-added tax (VAT) payments.
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The deputy secretary of the Thai SEC has said the regulator has yet to decide how to regulate STOs.
- Analysis
The Crypto Kingdom: Thailand proves there’s space for crypto even in authoritarian regimes.
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The Bank of Thailand’s governor says that developing countries will take some time to switch to using digital currency.
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by Ana Berman
The Thai branch of IBM will promote blockchain and AI to turn the country into a major sales hub in the surrounding region.
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As Thailand is set to confirm its first licensed cryptocurrency entity this month, an exchange operating without a licence has been condemned by regulators.
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ICOs will soon debut in Thailand under formal legislation that regulates the entire cryptocurrency sector, says Thai SEC.
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by Aaron Wood
The Deputy Prime Minister of Thailand has called for more regulation on cryptocurrencies, urging experts not to lag in developing new security practices.
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by Ana Berman
Three Thai siblings accused of swindling $24 million worth of Bitcoin from a Finnish investor have recently pleaded “not guilty” in a Bangkok court.
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by Ana Berman
Revenue Department of Thailand to use blockchain and machine learning to tackle tax avoidance and fraud.
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by Ana Berman
A U.S. household cleaning supplies manufacturer will open several recycling centers in Indonesia, granting tokens to citizens for plastic waste collection.
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The Thai Securities and Exchange Commission has warned the public about investing in nine unapproved digital tokens and ICOs.
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Accenture and a fintech subsidiary of Siam Commercial Bank have released a blockchain solution powered by R3’s Corda technology.
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by Ana Berman
The main suspect in a Bitcoin fraud case in Thailand was detained at a Bangkok airport after being on the lam for 2 months.
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