Thailand legalized BTC and ETH, and seeks more

Verified
5 months ago
0

Thai government officially recognized six biggest cryptocurrencies – Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Ripple and Litecoin – as a legitimate form of money, allowing local institutions to conduct operations with them. However, in the short-term, they will only be allowed to deal with the six digital assets until the regulator decides to open the market to smaller cryptocurrencies and tokens. Any ICO tokens can be traded only with these six currencies as well.

Moreover, Thai SEC stressed that exchanges and platforms that trade unrecognized tokens are so far outlawed:
“Sellers of unauthorized digital tokens and those setting up unauthorized 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 face a jail term of up to two years.”