After months of market volatility and sliding prices, the digital asset landscape in Thailand is poised for intense competition, with new players lining up to enter the sector amid a tightening regulatory environment.
Thailand has reportedly scrapped plans to impose a 15 percent withholding tax on crypto transactions following a surge in backlash led by the country s youth.
Industry urges rethink on token ban
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Group argues rule gives edge to Bitkub
published : 15 Jun 2021 at 05:31
4 Representations of bitcoin and Dogecoin. The Thai SEC barred trade of meme-based tokens, fan-based tokens, NFTs and exchange-issued tokens on Friday night. REUTERS
The Thailand Digital Asset Operators Trade Association (TDO) is seeking a revision following the Securities and Exchange Commission s (SEC) recent ban on trading of meme-based tokens such as Dogecoin, fan-based tokens, non-fungible tokens (NFTs) and exchange-issued tokens.
The TDO condemned the regulator s decision, saying the new rules give a competitive advantage to Bitkub s KUB coin because those coins have already been issued, compared with other exchanges that have yet to do so.