Tags: APFN | AS | Thailand | Cryptocurrency

Thailand to Draft Plans to Regulate and Tax Cryptocurrencies

Tuesday, 13 March 2018 08:38 AM

BANGKOK (AP) — Thailand's cabinet agreed Tuesday to draft a law to oversee cryptocurrency trading, seeking to tax the largely unregulated market.

Government spokesman Nathporn Chatusripitak said the Ministry of Finance also proposed the new regulations to help prevent use of digital currencies in money laundering and fraud.

He said details of the proposed regulations would be announced later in the month.

In February, Thailand's central bank issued a circular asking financial institutions to not handle transactions involving cryptocurrencies.

Across Asia, governments have been belatedly moving to exert control over bitcoin exchanges and other fast-growing cryptocurrency-related activities.

© Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
GlobalTalk
Thailand's cabinet agreed Tuesday to draft a law to oversee cryptocurrency trading, seeking to tax the largely unregulated market.Government spokesman Nathporn Chatusripitak said the Ministry of Finance also proposed the new regulations to help prevent use of digital...
APFN,AS,Thailand,Cryptocurrency
96
2018-38-13
Tuesday, 13 March 2018 08:38 AM
Newsmax Inc.
 
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved