• Bitcoin
  • NFT
  • Binance
  • ETH
  • DeFi
  • Metaverse
  • IDO
  • Coinbase
  • Solana
  • ETF
  • FTX
  • GameFi
Newsletter
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
CoinLive
No Result
View All Result
Home Crypto News

Thailand Ditches Cryptocurrency Tax Plan After Facing Fierce “Criticism”

189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Hong Kong cryptocurrency exchange Hounax scammed users out of $15.4 million

Hong Kong cryptocurrency exchange Hounax scammed consumers out of $15.four million

November 27, 2023
Zipmex Temporarily Suspends Operations in Thailand

Zipmex Temporarily Suspends Operations in Thailand

November 27, 2023

Thai authorities have been criticized for the taxes they will impose on mining, trading and trading in cryptocurrencies. Therefore, they determined to abandon the strategy.

Thailand abandons plan to tax cryptocurrencies after stumbling "criticize" violently
Thailand Ditches Cryptocurrency Tax Plan After Facing Fierce “Criticism”

Citing the new Thai Tax Department rules, the authorities no longer want to charge a 15% tax on cryptocurrency trading. The determination comes significantly less than a month just after the Central Bank of Thailand (BOT) unveiled its most up-to-date strategy on taxing all crypto assets starting up in 2022.

However, the move was met with backlash from area traders and firms. In truth, even the former head of the Securities and Exchange Commission of Thailand (SEC), Mr. Tipsuda Thavaramara, mentioned the taxation would be counterproductive. Some other connected organizations have also mentioned that this action could “kill” the development probable of the market in the long term.

Tax officials mentioned revenue earned from trading or mining cryptocurrencies in Thailand can be reported as a capital achieve from revenue tax. The new rule will make it possible for traders to offset their losses with revenue manufactured in the similar 12 months.

Last week, Thailand announced ideas to regulate the use of cryptocurrencies as a payment strategy with the participation of Thailand’s Central Bank, the Ministry of Finance and the Securities Commission. The companies mentioned they would publish advice for a quantity of crypto assets that could assistance the nationwide economic procedure devoid of posing any danger.

Indeed, in current many years Thais have a sturdy “desire” for cryptocurrencies, the volume of transactions in the land of the Golden Temple enhanced by 588% in the very first four months of 2021 alone. Moreover, in addition, crypto is also a springboard to assistance strengthen the tourism sector, which is thought of a important financial sector in the nation. Currently, the tourism-particular token TAT Coin is about to achieve government approval.

Additionally, the sturdy wave of Thai reception has also prompted some of the world’s greatest cryptocurrency exchanges to enter the marketplace, most notably Binance, which has partnered with Thai billionaire Sarath Ratanavadi to allow the launch of a domestic cryptocurrency exchange. However, the Thailand Exchange (SET) is also about to launch its personal cryptocurrency exchange, which is anticipated to be finished by the finish of the 12 months.

Summary of Coinlive

Maybe you are interested:

Maybe you are interested:

Tags: criticismCryptocurrencyDitchesfacingfiercePlantaxThailand
Share76Tweet47

Related Posts

OKX Targets US IPO Following DOJ Settlement

by shark
June 23, 2025
0

OKX explores a US IPO after settling DOJ issues, paving the way for broader market engagement.

Bitcoin Volatility and Stablecoin Regulation Highlight Binance Report

by shark
June 23, 2025
0

Bitcoin's volatile movements and regulatory changes in the stablecoin sector highlighted in Binance's June 2025 report.

Tesla Launches Robotaxi Service in Austin

by shark
June 23, 2025
0

Tesla launches a robotaxi service in Austin, focusing on self-driving technology without influencing the crypto market.

Solana Launches Network Extensions for Enhanced Blockchain Scalability

by shark
June 23, 2025
0

Solana introduces network extensions, boosting blockchain scalability with Solana Labs' innovative Layer 1 integration.

Bitcoin Gains Market Dominance as Altcoins See Sharp Declines

by shark
June 23, 2025
0

Bitcoin gains dominance amid declining altcoins, affecting market dynamics and investor sentiment.

Load More

Tags

analysis announces Bank billion Binance Bitcoin Blockchain BTC CEO Coin Coinbase Crypto cryptocurrencies Cryptocurrency DeFi ETH Ethereum Exchange Finance FTX fund game General News Information Investment Latest Launch launches market Metaverse million Network News NFT platform Price project Protocol Review SEC Solana Token trading users wallet

Recent Posts

  • OKX Targets US IPO Following DOJ Settlement
  • BlockDAG Delivers Miners Soon as PEPE Stabilizes and Avalanche Activity Spikes
  • Bitcoin Volatility and Stablecoin Regulation Highlight Binance Report
  • Tesla Launches Robotaxi Service in Austin
  • Solana Launches Network Extensions for Enhanced Blockchain Scalability
  • Bitcoin Gains Market Dominance as Altcoins See Sharp Declines
  • Bitget Partners with MotoGP for 2025 Season Sponsorship
  • ARK Invest Sells Circle Shares Amid Surge
  • About
  • FAQ
  • Contact Us
  • IGO
  • Altcoin
  • Terra
  • Launchpad
  • P2E
  • META
  • AXS
Email us: [email protected]

© 2021 CoinLive - Crypto News 24/7

No Result
View All Result
  • Home
  • Crypto News
  • Market Analysis
  • Learn

© 2021 CoinLive - Crypto News 24/7