On Monday 14 May 2018, both: (i) the Royal Decree on Digital Assets Business B.E. 2561 (2018) which seeks to regulate the issue and trade of “Digital Assets” (DAB) and; (ii) the Amendment to the Revenue Code (no. 19) B.E. 2561 (2018), which seeks to tax profits from “Digital Assets” (DAT), came into effect (collectively the Digital Assets Regulations). The Digital Assets Regulations are the nation’s first attempt to regulate Digital Assets since the growth in popularity of cryptocurrencies and digital coins for some time.
The aims of the Digital Assets Regulations are to support the increase in demand and recognition of Digital Assets in Thailand as well as protect Thai investors from the extreme volatility of Digital Assets by requiring issuers and other operators of Digital Assets businesses to disclose adequate and correct information.