(Reuters file photo)The royal decree to regulate digital asset-related transactions came into force on Sunday after it was published in the Royal Gazette. Finance Minister Apisak Tantivorawong said in March that the law was necessary to comprehensively regulate cryptocurrencies and digital tokens to prevent money laundering, tax avoidance and crime. The 100-section law defines cryptocurrency as digital assets and digital tokens. All sellers are required to register with the SEC within 90 days of the law taking effect. Sellers of digital tokens unauthorised by the SEC will be fined no more than twice the value of the digital transaction or at least 500,000 baht.

Source: Bangkok Post May 13, 2018 13:25 UTC