A royal decree to regulate cryptocurrency in Thailand came into force last week, according to the Bangkok Post.

The law, consisting of one hundred sections, defines cryptocurrency as digital assets which must be registered with the Securities Exchange Commission. Retailers of cryptocurrency in the country have 90 days (as of the 13th of May) to acquire a licence.

The punishment for selling cryptocurrency without a licence will be no more than twice the value of the transaction, with a minimum of 50,000 baht (approximately 1550 dollars). A two-year jail term is also a possibility.

Background

Thailand has approached cryptocurrency regulation in a relatively measured ... (read more)