Thailand mostly because the governing laws are inconsistent with the ever-advancing technologies and do not allow businesses to access necessary information sufficiently. The FinTech Act would not only
are regulated under the Emergency Degree on Digital Asset Businesses B.E. 2561 (2018). The Ministry of Finance notified the results of the consideration of the seven applicants* yesterday, with details
confidence to the overall industry. Presently, the digital asset business operators are required to hold shareholders’ equity as a minimum capital requirement to assure their sufficient capital for continuous
not subject to Thai law and supervision of the Thai regulator. In addition, discussions with relevant enforcement agencies have raised concerns that digital assets may be used as a tool to commit
(BX) to other wallets which are not purported to keep clients’ assets in violation of the Emergency Decree on Digital Asset Businesses B.E. 2561. In the complaint, SEC provides ECSD with information
Commission (SEC) has filed a criminal complaint against Binance, a digital asset exchange platform provider, with the Economic Crime Suppression Division of the Royal Thai Police (ECD) for commission of
operators have efficient risk management and be equipped to tackle cyber threat to ensure that clients’ digital assets under their custody are safe. Essentially, digital asset business operators are required
; and (3) Seeking benefits from clients’ fiat money shall be prohibited except in the form of deposit with commercial bank(s). In this regard, digital asset business operators and their clients may
assessments are crucial for the development of the financial sector in Thailand as they help to ensure alignment of regulatory frameworks and supervisions with the corresponding international standards. The
considered: 1. Financial statements shall be prepared in accordance with the financial reporting standards that are acceptable to lead regulator and there shall be no expression of opinion that the auditor's