Thailand to Control Cryptocurrency Transactions
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Thailand has put in a new law to control and regulate cryptocurrency transactions and ICOs, The Bangkok Post reports. Violators of the law are threatened with heavy fines or imprisonment.

Within three months, all citizens carrying out transactions with cryptocurrencies must register with Thailand's Security Exchange Commission (SEC).

The royal decree stipulates that violation of this provision is punishable by imprisonment for up to two years, or a fine of double the amount of the operation. The amount of the fine can not be less than 500 thousand baht ($15.6 thousand).

Finance Minister Apisak Tantivorawong said in March that the law was necessary for the comprehensive regulation of cryptocurrencies to prevent money laundering, tax avoidance and crime.

By Ekaterina Ulyanova

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