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June 14, 2018
“Sellers of unauthorised digital tokens and those setting up unauthorised seminars to solicit cryptocurrency investment 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.”Moreover:
“Fees charged for brokerage firms and digital asset dealers are 2.5 million and 2 million baht, respectively. Annual fee for digital exchanges is charged at 0.002% of trading volume, with a minimum fee capped at 500,000 baht and 20 million for the maximum. Brokerage firms’ annual fee is charged at 0.001% of total trading volume, with the minimum fee capped at 250,000 baht and 5 million for the maximum.”See more from the full article by the Bangkok Post for yourself, here- https://www.bangkokpost.com/business/news/1481525/sec-releases-crypto-details This is the first big step for regulation within Thailand and follows the footsteps of countries such as Japan, who are enforcing heavy regulative procedures yet at the same time are fostering a very positive stance towards cryptocurrencies. The unique twist from the Thai SEC sits within their decision to allow only a few currencies, as opposed to just banning a few problem coins. Perhaps as this regulation is in its early stages, the SEC want to focus on few currencies first off, before they fully open up the markets?