Thai SEC Eases Crypto Investing Restrictions
The SEC of Thailand has updated the criteria for investing in digital tokens, easing some restrictions.
In a recent meeting, the SEC Committee approved the principles for improving investment criteria and related criteria for digital asset business operations, aiming to establish effective investor protection mechanisms while considering the risks associated with digital assets.
For one, the commission has lifted investment restrictions previously imposed on retail investors for digital tokens backed by real estate or generating real estate income streams (real estate-backed ICOs) and digital tokens with infrastructure operations or revenue streams (infra-backed ICOs).
Previously, retail investors were limited to investing a maximum of 300,000 baht per offering.
The SEC also reviewed the criteria for establishing custodial wallet provider businesses, enabling them to offer services to digital asset business operators.
Earlier this year, the country’s Finance Ministry also announced the exemption of value-added tax (VAT) on digital asset trading.
By easing tax rules, the ministry has suspended the requirement to pay 7% VAT on income derived from cryptocurrency and digital token trading.
This VAT exemption, effective since January 1, 2024, has no expiration date, providing a long-term incentive for investors and traders in the digital asset space.
