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Thailand Announces Crypto Trading, CBDC Plans -Breaking

Thailand Announces Crypto Trading and CBDC Plans
  • Thailand takes steps to adopt cryptocurrency.
  • Thailand’s central bank announced their intentions to trial a central bank digital currency in the second quarter of 2022.
  • Following Thailand’s approach to adopt digital assets, the Thailand Stock Exchange will add support for the trading of and other digital assets.

Thailand has been gaining ground in cryptocurrency markets as real estate developers and retailers start accepting cryptocurrencies. Instead of trying to slow down the rate of adoption of cryptocurrency amongst citizens of Thailand by banning cryptocurrency trading and mining, the country’s governing bodies are putting a regulatory framework in place.

According to an anonymous source within the Finance Ministry who revealed information to The Bangkok Post last month, this framework will apply a 15% capital gain tax to profits from cryptocurrency trading. This means that any taxpayers, investors and miners who have benefited from cryptocurrencies will be subjected to a 15% holding fee.

Thailand’s central bank has also expressed its intention to trial …

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.