A Royal decree governing cryptocurrencies and digital assets requires that retailers be licensed by the Securities Exchange Commission within 90 days. Offenders will face up to four years in jail and/or a fine of up to twice the value of the transaction, with a minimum of THB 500,000 (approximately US $15,600).
The new law identifies the risks and hazards encountered in the cryptocurrency market and aims to ensure that trading platforms aren’t used for money laundering, tax evasion, and other financial crimes. It also regulates deals involving cryptocurrencies and trading fees.