May 14, 2018 313By Robert Johnson
“All sellers are required to register with the SEC within 90 days of the law taking effect. Sellers of digital tokens unauthorised by the SEC will be fined no more than twice the value of the digital transaction or at least 500,000 baht. They could also face a jail term of up to two years.”You can see the full Bangkok Post article for yourself, here- https://www.bangkokpost.com/business/news/1464522/cryptocurrency-law-takes-effect The regulations now recognise cryptocurrencies as digital money and are designed to prevent money laundering and fraud. Moreover, the regulations will still allow ICO’s but will also work towards ensuring that these are carried out in the safest way possible. By ensuring exchanges and traders are registered with the SEC, they can be held accountable for any illegal actions that they take. Hopefully, this means trading in Thailand, is about to become a whole lot safer. Remember, those who fail to register with the SEC in 90 days, could be subject to some quite severe criminal proceedings. This is very positive for cryptocurrencies overall. Thailand join the ranks of some very technologically progressive countries and will be the part of a revolution for cryptocurrency in Asia. With the rest of the world looking on, it won’t be long before European states start to follow suit.