Thailand applies regulations to cryptocurrencies
They were approved last March in a range that goes from fines to jail to avoid evasions became effective in the country
After the government regulation in Thailand that establishes controls for transactions with cryptocurrencies was approved last March, it went into effect this May 14 with fines and jail for evaders.
The Minister of Finance, Apisak Tantivorawong, said that the regulation seeks a deep control of digital currencies, in addition to controlling crimes such as money laundering, tax evasion and other cyber crimes. He pointed out that they do not intend to prohibit trade in these currencies but to control their commercialization.
Through the regulations, both digital currencies and their operators will be controlled. A guide will also be established for the supply and demand of these currencies, their registration and approval, among other aspects.
The profits obtained in cryptocurrencies should pay a tax of 115%, according to the current estimations of local government.
M.Pino
Source: Guia Bitcoin
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