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.
Governments in Asia are quickly researching or implementing CBDCs. What does this mean for the region’s overdependence on the U.S. dollar?
Asian CBDC projects: What are they doing now?
The proposed TAT Coin will enable tourism operators to cash in on the popularity of cryptocurrencies.
Thailand’s tourism authority is considering creating its own utility token
The firm uses the Ethereum blockchain to allow traders to invest as little as $150 in expensive real estate properties.
Thai SEC issues license to Ethereum-based real estate project
Huobi’s operations in Thailand have been suspended by local authorities after it allegedly failed to comply with local regulations.
Thai SEC intends to revoke operating license of Huobi crypto exchange
Thailand's Bank of Ayudhya, where MUFG holds a 76.9% stake, has participated in a $41 million raise for Asia-Pacific-focused crypto trading platform Zipmex.
MUFG boosts its crypto exposure following $41M Zipmex funding round
The Thai SEC is seeking public input for newly proposed crypto custody regulations until late September.
Thai SEC proposes new rules for digital asset custodians
The results of a new study from the Bank of Thailand point to three key considerations for making sure a retail central bank digital currency doesn't adversely ...
Thailand's central bank outlines safeguards for a future retail CBDC