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
Author
Komkrit Kietduriyakul
Komkrit Kietduriyakul joined Baker McKenzie in 1994. He was working with the Firm’s London office when he became a partner in 1999. Mr. Kietduriyakul is a member of the Banking & Finance, Capital Markets & Securitization, Restructuring & Insolvency and Projects Practice Groups in Bangkok. He is a recognized leader in derivatives, structured finance, and capital markets, as well as fintech, project finance and bankruptcy.
Mr. Kietduriyakul’s practice includes representing corporate and financial clients on a broad range of international and domestic banking and finance and financial regulatory matters with a particular expertise in digital assets, blockchain, and fintech. He has also assisted clients with bond and debenture offerings, construction financing, as well as swaps and derivatives transactions.
Author
Kullarat Phongsathaporn
Kullarat is a partner in the Financial Services Practice Group at Baker & McKenzie Ltd. She is recognized in banking and finance, securities, derivatives and structured finance, FinTech, e-payment, venture capital, exchange control, anti-money laundering / counter terrorism financing, and financial and tech-related laws and regulations. She leads the FinTech team at the Bangkok office.
Kullarat has assisted the largest and fastest growing companies in and outside Thailand on matters related to the use of technology and digitalization in financial markets, including both money and capital markets.
