Thailand's regulations on digital money expected to be issued in April 2018

BANGKOK, March 9 (TNA) - New regulations on digital money trade and investment in Thailand is expected to be issued by April 2018. BOT Governor Veerathai Santiprabhob told journalists on March 8 that Thai Deputy Prime Minister Somkid Jatusripitak (สมคิด จาตุศรีพิทักษ์) has instructed relevant agencies, including BOT and the Thai Securities and Exchange Commission (SEC), to complete working out the new regulations within one month. Veerathai noted that transactions of digital money in Thailand have been increasing, the situation of which has not affected the stability of the national financial system as they have been limited in a small group of individuals so far. The BOT governor stressed that the cryptocurrency is a kind of asset which is not recognized as the legal medium of exchange in Thailand and other several countries. According to the BOT governor, the new regulations, once issued, will protect traders and investors of the cryptocurrency from hackers, speculators, tax evaders, as well as money laundering gangs and ponzi schemes. (TNA)