The digital assets industry in Thailand has been growing significantly between 2021 and 2022, as more big players in the traditional financial industry and startup spaced enter the digital assets market. Despite the price volatility and regulatory complexities, the country has seen a rise in crypto-related activities.
In this updated report – A Complete Guide to the Regulations on Cryptocurrency and Digital Token Offering in Thailand – the Baker McKenzie Thailand team provides an update of the regulations pertaining to digital assets in the country. The report covers regulations around custodial wallet providers, digital asset payments and NFTs. It also includes the SEC’s proposed rules on ready-to-use utility tokens, advertisements, and IT standards. Some of the topics covered in-depth are:
Applicable laws governing cryptocurrencies and digital assets
Digital asset laws
Differentiating between cryptocurrencies and digital tokens, including how they are regulated
Overview of the regulatory regime on the offering of digital tokens and operation of a digital asset business
Guidelines for various types of market participants
Anti-money laundering (AML) regulations
On-boarding process
Ongoing compliance requirements
