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Thailand enacts tough cryptocurrency law, including fines and jail terms

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Thailand enacts tough cryptocurrency law, including fines and jail terms

Jitsiree Thongnoi

Thailand Correspondent

 

BANGKOK - Thailand put a new law in place on Monday (May 14) to control and regulate cryptocurrency transactions and Initial Coins Offerings (ICOs).

 

It comes with hefty fines and jail terms to crack down on fraud and unauthorised transactions.

 

The country enacted a royal decree which stipulates thatcryptocurrencies and digital tokens are digital assets. Thailand'sSecurity Exchange Commission (SEC) will be in charge of overseeing and regulating all cryptocurrency transactions and verifying the identity of clients.

 

Full story:  https://www.straitstimes.com/asia/se-asia/thailand-enacts-tough-cryptocurrency-law-including-fines-and-jail-terms

 

-- THE STRAITS TIMES 2018-05-14

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