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CATEGORY: thailand


Thailand launches regulatory sandbox to test crypto services

Author: Cointelegraph by Helen Partz
United States
Aug 10, 2024 12:00

Thailand launches regulatory sandbox to test crypto services

Thailand has been moving toward a more crypto-friendly stance throughout 2024, approving a Bitcoin ETF, initiating tax breaks for crypto and more.

Aug 28, 2024 01:25

An Untold Story of Bitcoin in Thailand

The story of Didier Somnuke, a Thai Bitcoiner, and his journey through Bitcoin.

Aug 27, 2024 01:00

Thai Law Authorities Raid Illegal Bitcoin Mining Facility: Report

The report shows that illegal Bitcoin miners operate in small houses to circumvent taxes in Thailand.

Thai authorities raid illegal Bitcoin mine behind local power outages

Author: Cointelegraph by Amaka Nwaokocha
United States
Aug 26, 2024 12:00

Thai authorities raid illegal Bitcoin mine behind local power outages

Illegal Bitcoin mining has been a growing problem in Southeast Asia, with operators exploiting the regions relatively low electricity costs

Aug 19, 2024 01:00

Masked Intruders Escape with $2M in Crypto: Thai Police Launched Investigation

Police in Thailand are investigating a high-stakes crypto heist in Pathum Thani, where $2 million in assets were stolen.

Thailand distributing digital money to 45M citizens to boost economy

Author: Cointelegraph by Derek Andersen
United States
Jul 25, 2024 12:00

Thailand distributing digital money to 45M citizens to boost economy

The controversial plan began as a campaign promise and will help lower-income Thais buy more.

Jun 06, 2024 05:50

Bitcoin Will Explode If Bulls Break The Fuse At $72,000

Bitcoins price has risen roughly 2% in the past 24 hours, trending above $70,000, a psychological level. As bulls prepare for more gains, Willy Woo, an on-chain analyst, believes the coin could soar even higher after breaking above the all-important resistance level at $72,000. Will Bitcoin Soar To $75,000 Due To A Short Squeeze? Even [...]

The post Bitcoin Will Explode If Bulls Break The Fuse At $72,000 appeared first on Crypto Breaking News.

Jun 05, 2024 12:25

Thailand Approves First Bitcoin ETF

Thailand has joined the Bitcoin exchange-traded fund (ETF) trend by approving One Asset Management (ONEAM) to launch a Bitcoin ETF, as reported by the Bangkok Post. However, access to the instrument will be limited to wealthy and institutional investors.

Thailands Bitcoin ETF

As approved by the Thai Securities and Exchange Commission (SEC), the ETF is named the ONE Bitcoin ETF Fund of Funds Unhedged and is scheduled to be distributed between May 31 and June 6. The Bitcoin ETF comes with an investment risk level of eight.

The approval came about two months after the Thai SEC amended its local rules to allow local asset management firms to launch private funds offering Bitcoin ETFs. However, the rule strictly limits the offerings to wealthy and institutional investors.

While ONEAM has received approval, MFC Asset Management is still waiting for regulatory approval for its Bitcoin ETF.

Maintaining Global Standards

The first Thai Bitcoin ETF has a policy to invest in 11 global funds to ensure liquidity and safety. It also highlighted the storage of cryptocurrencies with international standards. Interestingly, the Thai fund was reviewed by regulatory agencies in the US and Hong Kong before the approval.

"Digital assets are an alternative asset that has a low correlation with other financial assets. They are suitable to help investors diversify investment risks," said Pote Harinasuta, ONEAMs CEO. Although the supply of Bitcoin is limited to 21 million, demand is rising as it gains popularity. We see high growth potential for Bitcoin.

Investing in Bitcoin can offer good returns, but comes with high volatility, Harinasuta added as his company recommends investors to allot only 5 percent of their portfolio to Bitcoin to obtain a return of about 8.9 percent per year. A portfolio without Bitcoin generates an annual return of 5.8 percent.

With Thailand onboard, several jurisdictions are now offering Bitcoin ETFs. However, instruments went mainstream with their approval in the US earlier this year. A total of eleven Bitcoin ETFs are now listed on US stock exchanges, with anticipation of the listing of Ethereum ETFs in the coming weeks or months.

This article was written by Arnab Shome at www.financemagnates.com.

Jun 05, 2024 01:25

Thailand Approves Its First Spot Bitcoin ETF

Thailand approved its first spot in Bitcoin ETF, with One Asset Management joining the growing list of jurisdictions approving regulated Bitcoin funds.

Jun 05, 2024 05:50

Thailand Approves the First Spot Bitcoin ETF

Thailand has approved launching its first spot Bitcoin exchange-traded fund (ETF), joining a growing list of countries embracing regulated Bitcoin investment vehicles. BREAKING: Thailand SEC approves the first spot #Bitcoin ETF. pic.twitter.com/ju1q83JvVP — Bitcoin Magazine (@BitcoinMagazine) June 4, 2024 The Thai Securities and Exchange Commission (SEC) endorsed asset manager One Asset Management (ONEAM) to [...]

The post Thailand Approves the First Spot Bitcoin ETF appeared first on Crypto Breaking News.

Thai SEC revokes Zipmexs licenses after failure to comply with orders

Author: Cointelegraph by Turner Wright
United States
Jun 12, 2024 12:00

Thai SEC revokes Zipmexs licenses after failure to comply with orders

Thailands finance minister determined the cryptocurrency exchange was still in contravention of orders imposed by the SEC in February.

Jun 11, 2024 02:30

Shiba Inu Joins Binance Thailand: Trading Starts June 11

Shiba Inu has gained entry in Binance Thailand boosting its adoption and visibility significantly. As per the announcement, SHIB will go live for trading from June 11 at 2:00 a.m. ET, on the BSC network through Binance TH, a subsidiary of Gulf Binance. The listing comes after a year when the top exchange received the green […]

Thai SEC to Ban Unauthorized Crypto Platforms, Citing Philippine Precedent

Author: Shiela Bertillo
Philippines
May 05, 2024 02:50

Thai SEC to Ban Unauthorized Crypto Platforms, Citing Philippine Precedent

Thailand Securities and Exchange Commission (SEC), inspired by moves in the Philippines and India, is shaping the crackdown on unauthorized crypto platforms.

May 15, 2025 05:50

Report: Thailand to Tokenize $150 Million in Government Bonds for Retail Investors

Thailand to Digitize $150 Million in Government Bonds Thailand is set to pioneer the tokenization of government bonds, aimed at streamlining the country’s financial infrastructure. The move is expected to digitize approximately $150 million worth of bonds, marking a significant step towards modernizing the nation’s financial systems. Tokenization involves converting traditional assets into digital tokens [...]

May 15, 2025 01:45

Thailand Announces Digitised Government Bonds Called G-Token For a Low Threshold Price

Thailand will issue $150 million worth of government bonds, digitised for the general public, to make investments more accessible.

May 14, 2025 05:50

Tether Gold Makes Grand Entrance into Thailand with Maxbit Exchange Listing

Tether Gold Stablecoin Launched in Thailand on Maxbit Exchange The revolutionary Tether Gold stablecoin has made its debut in Thailand with a listing on the Maxbit Exchange. This move is a significant step in expanding the reach of Tether Gold in the Asian market. Tether Gold is a game-changer in the world of stablecoins, as [...]

Apr 04, 2025 02:30

CZ Donates $600K in BNB for Myanmar & Thailand Earthquake Relief

Changpeng CZ Zhao, a former Binance CEO, has officially stepped up to support earthquake victims in Myanmar and Thailand by donating 1,000 BNB, which is worth approximately $600,00. This is as a response to Binance Charitys recent initiative aimed at aiding those affected by the devastating earthquake on March 28 CZ $600K BNB Donation for […]

Apr 30, 2024 12:25

Thailand Restricts Introducing Brokers to Only Promote Digital Token Services, Not Cryptos

The Securities and Exchange Commission (SEC) in Thailand has warned digital asset exchanges that their advertisements and the organisation of introducing broker agent (IBA) events might violate local regulations, Bangkok Post reported today (Monday). The regulator clarified that IBAs can only promote digital token services to avoid speculation on cryptocurrencies, which are categorised as high-risk assets.

Clarifying Rules for Investors Benefits

IBAs are local companies or agents that onboard clients in a local market for their partner digital asset exchanges for commission. These practices are standard for exchanges or brokers that do not operate directly in some markets.

The warning came as the Thai regulator is reiterating the operations of digital asset exchanges in the country to ensure their compliance with local business standards and to focus on benefiting investors and protecting their interests.

Cryptocurrency exchanges are legal in Thailand, but they must obtain local approval. Last month, the country even allowed asset management firms to launch private funds to offer bitcoin exchange-traded funds (ETFs), but only to institutional and ultra-high-net-worth investors.

However, the country banned the sale of cryptocurrency lending products and also mandated that exchanges display a risk warning message.

Companies Must Be Honest

The recent cautionary order confirms the Thai regulators priority to ensure the advertisements and sales promotions of the crypto exchanges comply with specified criteria and also eliminate false, exaggerated, distorted, concealing, or misleading information. It further highlighted the mandatory warnings about investment risks for investors in all advertisements and promotions.

When operators organise sales promotions by offering rewards to entice people to use the service, this could encourage use of the service without considering the investment risks. This is especially the case for cryptocurrencies, Anek Yooyuen, Deputy Secretary-General of the Thai SEC said in a statement.

The SEC is asking business operators to strictly comply with the rules and be careful when organising IBAs, advertising and sales promotions, following the relevant rules and guidelines. If there is any violation, there will be punishment according to the law.

This article was written by Arnab Shome at www.financemagnates.com.

Turkey tops the world in stablecoin buying share vs. GDP

Author: Cointelegraph by Helen Partz
United States
Apr 26, 2024 12:00

Turkey tops the world in stablecoin buying share vs. GDP

Stablecoin purchases in Turkey amount to 4.3% of GDP, the highest among global economies, according to Chainalysis.

Apr 23, 2024 12:25

Thailand Cracks Down on Unregistered Crypto Services to Tackle Cyber Crime

Thailand is planning to block unauthorized cryptocurrencyservice providers to fight online crimes. The Office of the Securities andExchange Commission (SEC) is partnering with Thai government agencies toprevent criminals from utilizing crypto exchanges for illicit activities,including money laundering.

Thailand Warns about Unregistered Crypto Platforms

According to the press release, PornanongBusaratrakul, the Secretary General of the SEC, recently disclosed plans tosubmit information about unauthorized crypto service providers to the Ministryof Digital Economy and Society.

The regulator's decision reflects similar actions taken by other countries like India and the Philippines. The SEC is strengthening its commitment to protecting investorsand safeguarding the financial system by taking action against unregistered cryptoservice providers in Thailand.

In light of this development, the SEC has urged users ofunauthorized platforms to promptly withdraw their assets. Additionally, the commission has cautioned investors against using services offered by unauthorizeddigital asset operators, as they may not be protected by law.

Besides that, the Thai securities watchdog has encouraged crypto traders to verify the legitimacy ofdigital asset operators by consulting its list of licensed businesses orusing the "SEC Check First" application. Any suspiciousactivities can be reported to the SEC's Complaint and Whistleblower Center forfurther investigation.

Global Crypto Regulation Shifts

While Thailand reinforces its regulations oncrypto exchanges, digital asset platforms in Europe are also facing regulatory scrutiny. For instance, the recently adopted Markets in Crypto-Assets Regulation mandates the European Commission to assess the feasibilityof decentralized finance for specific regulations by the end of theyear.

In South Korea, the country's financial regulator is preparing to adopt significant laws for virtual asset service providers (VASP),targeting the employment of executives in the sector.

Specifically, these regulations would necessitate thevetting of executives before they assume roles within the VASP firms. This actionis aimed at granting the Financial Services Commission authority over personnelmatters within the crypto industry.

Should these proposals be enacted, companies seekingto renew their VASP licenses would face heightened scrutiny regarding their personnel decisions. The FSC will have the mandate to suspend the VASP licenses if there is an ongoing investigation targeting the executives.

This article was written by Jared Kirui at www.financemagnates.com.

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