In April, Thailand will introduce rules in relation to cryptocurrency and primary offerings of coins to strengthen the protection of investors. About it said the Commission on securities and stock exchanges of the country.
As reported in an interview with the General Secretary of the Commission, RAPI Sucharitakul (Rapee Sucharitakul), these regulatory developments will be introduced in about three weeks.
Under the regulatory framework will be subject to suggestions of digital coins and trading platform. More detailed information will be published as soon as the legislation receives Royal assent.
“This is a very specialized market and it is not for ordinary people,” said Sucharitakul.
Currently cryptoamnesia in Thailand operating in a legal grey area, while the Asian neighbors countries such as China and Indonesia, took against the cryptocurrency more assertive stance.
According to RAPI, the new rules will establish requirements for disclosure of information and warnings, but the government does not want to drive the proposals of the coins in the underground or push them abroad like China. It is expected that the laws will also determine the applicable tax rules.
It should be noted that according to statistics TokenData, 2017, 46 percent of startups token failed either during its ICO, or after. This year it ended in failure 50 of 340 completed primary offerings of coins.
The Thai official also spoke about other upcoming initiatives of the Commission, which include:
- increasing the level of financial advice through the creation of the list of registered financial advisers who meet the required criteria;
- create a program that allows asset managers from Australia, New Zealand, South Korea and Japan to sell their funds in Thailand.
Recall that earlier this month, there appeared information about the fact that Thailand is going to introduce a tax on cryptocurrency income. Of RAPI stressed that the decisive importance of the environment in which Thai investors will be able to make informed investment decisions.