The Securities and Exchange Commission of Thailand has published information about unregistered tokens and ICOs that were not approved by the authorities.
The Thai regulator announced the list of questionable tokens, they are: Every coin, Orientum coin (ORT Coin), Onecoin (OFC coin), Tripxchain coin (TXC Coin) and TUC coin; as well as ICOs launched by G2S Expert, Singhcom Enterprise, Adventure Hostel Bangkok and Kidstocurrency. The authorities also noted that the coins did not even submit an application for obtaining commission approvals, however, they are widely advertised in social networks.
“Currently, no digital asset issuer has been approved and no one has filed an application for a license [to issue tokens] with the SEC. Therefore, [SEC warns] investors to take caution when being solicited or receiving information about investments in digital assets,” the regulator said.
In early 2018, Thailand’s Ministry of Finance has finally decided on the taxation for cryptocurrencies. The Office has published the final version of the bill regulating the digital currencies.
The amended version of the document contained the approved taxation system. Thai regulators are to charge investors with a 7% VAT and a 15% capital gains tax and income from investing.
At the same time, the definition of cryptocurrency was changed in the bill. From now on, they are called “cryptocurrency and other digital tokens”.
On May 13, 2018, the decree came into force as it was published in the Royal Gazette.
Within the 90 days after the new regulations have been published, the law requires all digital asset transactions, including those of digital asset exchanges, brokers and dealers, to be registered with the relevant authorities according to the decree.
As such, SEC has named six more businesses that are currently overgoing the process of getting the licenses to operate as digital asset exchanges, and have the right to carry out their work without the regulator’s permission. They are:
- Bitcoin Co (bx.in.th)
- Bitkub Online Co Ltd (bitkub.com)
- Cash2Coins Co Ltd (cash2coins.com)
- Satang Corporation Co Ltd (tdax.com)
- Coin Asset Co Ltd (coinasset.co.th)
- Southeast Asia Digital Exchange Co Ltd (seadex.io)
The regulator has also named two businesses that are currently seeking licenses to operate as digital asset dealers:
- Coins TH Co (coins.co.th)
- Digital Coin Co Ltd (thaiwm.com)
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