Thailand legalized operations with cryptocurrencies

In Thailand on May 13, the law, regulating the turnover of cryptocurrencies and digital assets, came into force, the project reported. The law obliges all persons engaged in the sale of cryptocurrency to obtain registration within 90 days in a special commission for security under the Thai Stock Exchange. According to the newspaper, The Bangkok Post, violation of the law is punishable by imprisonment of up to two years or a double penalty from the amount of the operation. At the same time, the fine can not be less than 500 thousand baht. As explained by the Ministry of Finance of Thailand, the law is aimed at “ensuring the comprehensive regulation of cryptocurrencies and digital tokens, as well as preventing money laundering and tax evasion”.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
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