Thailand to regulate Cryptocurrency market and ICO


After a long wait finally Thailand has released its framework to regulate cryptocurrency market in Thailand on cabinet meeting held on 27th march. According to Nikkei Asian review (local news portal) 7% VAT will be taken from crypto trades and 15% will be taken as capital gain tax.

This tax is still quite higher than in singapore and regulating framework for ICO that will operate through Thailand is quite strict. That’s why many ICO that are running in thailand is registered in Singapore for example

The future of J ventures  which had ran an ICO on February and raised $21 million in just 55 hours is still unclear because according to Nikkei Asian, ICO that were held upto 6 months before also have to comply with this new regulation.