{"id":56380,"date":"2022-01-21T20:13:21","date_gmt":"2022-01-21T18:13:21","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=56380"},"modified":"2025-09-04T06:06:07","modified_gmt":"2025-09-04T03:06:07","slug":"thailand-urged-a-measured-approach-to-cryptocurrency-taxation","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/thailand-urged-a-measured-approach-to-cryptocurrency-taxation\/","title":{"rendered":"Thailand urged a measured approach to cryptocurrency taxation"},"content":{"rendered":"<p>Thai authorities should exercise due caution before imposing any taxes on cryptocurrency transactions, said Watanya Wongopasi, a representative of the Democratic Party.<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.facebook.com\/plugins\/post.php?href=https%3A%2F%2Fwww.facebook.com%2Fdear.watanya.wongopasi%2Fposts%2F483885686427393&#038;show_text=true&#038;width=500\" width=\"500\" height=\"767\" style=\"border:none;overflow:hidden\" scrolling=\"no\" frameborder=\"0\" allowfullscreen=\"true\" allow=\"autoplay; clipboard-write; encrypted-media; picture-in-picture; web-share\"><\/iframe><\/p>\n<p>On her Facebook page, the politician posted a concise summary of the committee&#8217;s discussion on the issue in the relevant House of Representatives committee. In her view, such measures could deter investors.<\/p>\n<p>Similar views are held by the head of the Thai Federation of Capital Market Organizations, Paibun Nalintrangkun. He noted that such a tax would reduce market liquidity by 40%. The firm iTax noted that the decentralized nature of cryptocurrencies would hinder gathering the necessary information.<\/p>\n<p>Back in 2018, Thai authorities approved a document under which deals in digital assets are taxed at 7% VAT and a 15% capital gains tax. That the latter option had become operative was reported in January 2022 by Bangkok Post.<\/p>\n<p>In the summer of 2021, <a href=\"https:\/\/u1f987.com\/en\/news\/thai-authorities-weigh-regulation-of-the-defi-sector\">considered regulating<\/a> the decentralized finance sector. Before that, the central bank <a href=\"https:\/\/u1f987.com\/en\/news\/thai-central-bank-to-regulate-stablecoins\">announced the introduction of rules<\/a> regarding stablecoins backed by foreign currencies, assets, and algorithmic &#8220;stablecoins&#8221;.<\/p>\n<p>In May, plans were announced by the local Anti-Money Laundering Office <a href=\"https:\/\/u1f987.com\/en\/news\/thailand-to-tighten-registration-requirements-for-crypto-exchanges\">to require<\/a> bitcoin exchanges to scan the chips embedded in citizens&#8217; identification cards when opening new accounts.<\/p>\n<p>In August 2021, <a href=\"https:\/\/u1f987.com\/en\/news\/thai-authorities-propose-regulatory-framework-for-crypto-custodians\">the SEC opened public hearings<\/a> on proposed amendments to the rules governing the operation of custodians of digital assets.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Thai authorities should exercise due caution before imposing any taxes on cryptocurrency transactions, said Watanya Wongopasi, a representative of the Democratic Party.<\/p>\n","protected":false},"author":1,"featured_media":56381,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[558,1266],"class_list":["post-56380","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-taxes","tag-thailand"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/56380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=56380"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/56380\/revisions"}],"predecessor-version":[{"id":56382,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/56380\/revisions\/56382"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/56381"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=56380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=56380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=56380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}