In early April, the government of Thailand has established double taxation of cryptocurrencies. Now residents have to pay 7 percent of all transactions with cryptocurrencies plus 15 percent in taxes on capital gains.
So officials want to prevent money laundering, tax evasion, drug trafficking and other illegal activities with the help of cryptocurrency. I think it worked — the Commission on securities and stock exchanges of Thailand legalized seven largest coins. This writes Bitcoin.com.
The status of the crypts. The Asia Version
The decision on the legalization of digital money in the country has taken a new regulator, which was established June 7 — the Commission on securities and stock exchanges of Thailand. Its abbreviation, SEC, similar to the shortened version of the name of the main financial regulator of the United States.
Under the new rules, citizens will be able to conduct transactions with Bitcoin, Ether, Litecoin, ripple, Ethereum classic Bitcoin Cache and stellar. The representative of the regulator said that the coins can be used in the preparation and conduct of the ICO.
In a press release, the SEC States that these coins are chosen because of the high liquidity and reasonable stability. As the newspaper notes, in fact, the regulator was guided by the fact that the coins are not anonymous.
The decision of the Thai regulator can lead to a serious increase of coins and the stock market as a whole — there are not too many countries that have legalized the operations with cryptocurrency in its territory. One can only hope and wait.