Thailand Leads in Crypto by Skipping the Big Debate

[webfact]

Thailand Leads in Crypto by Skipping the Big Debate

Regulators just wrote an entirely new law.

By Tim Culpan

 

Securities, or not securities. That is the crypto question. Except in Thailand.

 

While regulators around the world have grappled with the issue of what category digital currencies and assets fall into, Thailand has skipped the debate altogether.

 

Instead, using an emergency decree that came into effect earlier this year, authorities wrote an entirely new law. The result is the Digital Asset Business Decree, which defines both cryptocurrencies (a medium of exchanging goods) and digital tokens (rights to participate in an investment, or to receive specific goods). The government also amended its tax law so it can extract some revenue from the budding industry.

 

Full story: https://www.bloomberg.com/view/articles/2018-07-01/thailand-leads-in-crypto-by-skipping-the-big-debate

 

-- Bloomberg 2018-2018-07-02

[coulson]

Good news for those in the game, outside Thailand. Japan also acknowledging ripple recently.

 

It's a grey area for me as to how a foreigner trading coins linked in any way to a thai wallet or account is not considered working.