Thailand to regulate digital coins from April to guard investors

Bloomberg

Thailand will impose rules on cryptocurrencies and initial coin offerings from April to bolster investor protection, the military-run nation’s Securities and Exchange Commission said.
The regulations are set to be enforced in about three weeks, and Thailand is able to move comparatively quickly on tightening oversight in part because a military administration is in power, the commission’s Secretary General Rapee Sucharitakul said in an interview in Bangkok.
“This is a very specialised market and it’s not for ordinary people,” he said.
Offerings of digital coins as well as trading platforms will fall under the regulatory framework, with more details to be
unveiled once the legislation receives royal endorsement.
The crypto-economy currently operates in a legal gray area in Thailand, whereas Asian neighbors such as China and Indonesia have adopted a tougher stance.
The framework will impose requirements for disclosures and warnings but the regulator doesn’t want to drive coin offerings underground or abroad, Rapee said. The laws are also expected to frame applicable tax rules.