Thailand determined with the crypto currency regulation

Within a month, the law on crypto-currencies and ICO should be adopted in Thailand.

Head of the Securities and Exchange Commission of Thailand (TSEC) Rapi Suharitakul announced yesterday that he had proposed a "special law" to regulate the whole turnover of the country's crypto currency.

This law is aimed at regulating primary placements of coins (ICOs) and the market of crypto-currencies, for all participating parties – investors, intermediaries, issuers and trading platforms.

Regulation will be based on the need to avoid market manipulation, money laundering, tax evasion and various multi-level marketing schemes.

In addition, Thai Finance Minister Apisak Tantivoravong said that the country's revenue department is considering the issue of taxing crypto-currency in cooperation with TSEC, the Ministry of Finance, the Anti-Money Laundering Office (AML) and the Bank of Thailand.

Deputy Prime Minister Mr. Somkid Jatuppripitak ordered the completion of the Law on Crypto-Currency and ICO within one month, reports

Author: Evgenij Novožilov, Analyst Freedman Club Crypto News

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