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Thailand has decided on cryptocurrency regulation

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Within a month, Thailand should adopt a law on cryptocurrencies and ICO.

The head of the Commission on securities and exchange Commission of Thailand (TSEC), RAPI Sucharitakul announced yesterday that he proposed the “special law” for the regulation of all cryptocurrency circulation in the country.

This law is aimed at regulation of primary placements of coins (ICOs) and cryptocurrency market for all participating parties — investors, intermediaries, issuers and trading platforms.

The regulation will come from the need to avoid market manipulation, money laundering, tax evasion and various multi-level marketing schemes.

In addition, the Minister of Finance of Thailand Apisak Tantivorawong stated that the Department of revenue of the country is considering the taxation of cryptocurrencies in collaboration with TSEC, the Ministry of Finance, Directorate for anti-money laundering (AML) and the Bank of Thailand.

Deputy Prime Minister Mr. Somkid Cutupapata ordered to finish the development of the Law on cryptocurrency and ICO in a single month, according Bitcoin.com.

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