Thailand
130,305 views
82 Posts
Hot
Latest
Thai Immigration Authorities Uncover $620,000 Cryptocurrency Scam
Thai immigration authorities have dismantled a cross-border cryptocurrency scam that defrauded a local woman of over $620,000.
According to the local news outlet Khaosod, five suspects were arrested, including citizens of Cambodia, Myanmar, and Thailand. These individuals established a fake investment group to lure victims.
Scam Organized Through Social Media
The fraudsters launched the operation at the end of 2023, using a public Facebook group called “Investor Chat Room” to attract victims, including Ms. Mallika, by promising high returns on investments.
Later, they convinced Ms. Mallika to move the conversation to the LINE app, where they offered her “profitable” investment opportunities in cryptocurrency and stock portfolios, leading her to invest large amounts.
Building Trust and Manipulating the Victim
The suspects assured Ms. Mallika that her investments needed time to yield profit or that more capital was required for leveraged trading. To reinforce her trust, they sent her small returns, creating the illusion of legitimate investing. As a result, the victim transferred a total of 21 million baht (around $621,000) to accounts connected to the fraudsters.
Money Laundering and Investment in Luxury Real Estate
According to immigration officials, the acquired funds were transferred across borders using a Burmese trader who managed a cover company in Thailand. Through this method, the funds were divided across Cambodia, Myanmar, and Thailand. Eventually, the laundered funds were used to purchase a luxury apartment in Bangkok’s Rama 9 area, intended for quick resale.
Authorities’ Action and Arrest of Suspects
Following a detailed investigation, immigration authorities obtained warrants from the Southern Bangkok Criminal Court for the key suspects, who were subsequently arrested. The suspects now face charges of fraud, identity theft, and other crimes.
Other Similar Cryptocurrency Scams
As reported by crypto.news, a similar case involved the EXW-Token scam, where fraudsters defrauded Austrians of 20 million euros, promising high returns but instead using the funds to finance a lavish lifestyle.
In another recent case, the cryptocurrency exchange Binance helped freeze $100,000 USDT linked to Indian scammers, who solicited funds under the guise of investments in renewable energy projects.
#CryptocurrencyScams , #scamalert , #CryptoNews🚀🔥 , #Thailand , #Cryptocurrencies
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
According to the local news outlet Khaosod, five suspects were arrested, including citizens of Cambodia, Myanmar, and Thailand. These individuals established a fake investment group to lure victims.
Scam Organized Through Social Media
The fraudsters launched the operation at the end of 2023, using a public Facebook group called “Investor Chat Room” to attract victims, including Ms. Mallika, by promising high returns on investments.
Later, they convinced Ms. Mallika to move the conversation to the LINE app, where they offered her “profitable” investment opportunities in cryptocurrency and stock portfolios, leading her to invest large amounts.
Building Trust and Manipulating the Victim
The suspects assured Ms. Mallika that her investments needed time to yield profit or that more capital was required for leveraged trading. To reinforce her trust, they sent her small returns, creating the illusion of legitimate investing. As a result, the victim transferred a total of 21 million baht (around $621,000) to accounts connected to the fraudsters.
Money Laundering and Investment in Luxury Real Estate
According to immigration officials, the acquired funds were transferred across borders using a Burmese trader who managed a cover company in Thailand. Through this method, the funds were divided across Cambodia, Myanmar, and Thailand. Eventually, the laundered funds were used to purchase a luxury apartment in Bangkok’s Rama 9 area, intended for quick resale.
Authorities’ Action and Arrest of Suspects
Following a detailed investigation, immigration authorities obtained warrants from the Southern Bangkok Criminal Court for the key suspects, who were subsequently arrested. The suspects now face charges of fraud, identity theft, and other crimes.
Other Similar Cryptocurrency Scams
As reported by crypto.news, a similar case involved the EXW-Token scam, where fraudsters defrauded Austrians of 20 million euros, promising high returns but instead using the funds to finance a lavish lifestyle.
In another recent case, the cryptocurrency exchange Binance helped freeze $100,000 USDT linked to Indian scammers, who solicited funds under the guise of investments in renewable energy projects.
#CryptocurrencyScams , #scamalert , #CryptoNews🚀🔥 , #Thailand , #Cryptocurrencies
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Four Thai Immigration Officers Face Arrest For Abducting Chinese National And Extorting 30,000 USDT
In a shocking incident, four immigration police officers in Thailand are facing arrest for allegedly kidnapping a Chinese man and his female interpreter and extorting a large sum of money from them, SCMP reported on March 21.
According to Deputy national police chief Surachate Hakparn, the incident took place on March 10, 2023, and came to light after the Thai woman filed a police report. The duo had fallen victim to an immigration scam while trying to renew the Chinese man’s passport and visa at a government office in Bangkok.
Thai immigration police chief Surachate Hakparn speaks to journalists in Bangkok. Photo: AFP
After officials rejected the man’s application, the duo left the government office and returned home. However, five men abducted them from their residence and forced them to pay a ransom of 1 million baht (US$29,170) in cryptocurrency. The captors also forced the man to transfer 30,000 USDT to them through the imToken app. The victims were eventually released and reported the incident to the police.
Further investigation revealed that four immigration police bureau officers were linked to the case. Arrest warrants have been issued against the officers, and the Chinese man has fled back to his home country. The victims were also in the news again on Monday after their car was waylaid by a motorcycle-borne assailant. The man received a ransom call demanding 1 million yuan (US$145,500) for his relatives’ freedom, and he handed over 200,000 yuan (US$29,100) in cryptocurrency to the suspect.
This incident has brought the spotlight on Thailand’s immigration police officers and their methods. While the officers claimed to be innocent, their involvement in the incident raises serious questions about the safety and security of foreigners in the country. The incident is also a reminder of the dangers of dealing with cryptocurrencies, which are increasingly being used by criminals to extort money from their victims.
The Thai government needs to take swift action to ensure that incidents like these do not occur again in the future. It is crucial that they investigate and punish those involved in the incident, including the immigration officers, and provide adequate protection to foreigners in the country. The incident has caused a lot of concern among the expat community in Thailand, and the government needs to take concrete steps to address their concerns and ensure their safety.
#Thailand #Chinese #coinscam #USDT #azcoinnews
This article was republished from azcoinnews.com
According to Deputy national police chief Surachate Hakparn, the incident took place on March 10, 2023, and came to light after the Thai woman filed a police report. The duo had fallen victim to an immigration scam while trying to renew the Chinese man’s passport and visa at a government office in Bangkok.
Thai immigration police chief Surachate Hakparn speaks to journalists in Bangkok. Photo: AFP
After officials rejected the man’s application, the duo left the government office and returned home. However, five men abducted them from their residence and forced them to pay a ransom of 1 million baht (US$29,170) in cryptocurrency. The captors also forced the man to transfer 30,000 USDT to them through the imToken app. The victims were eventually released and reported the incident to the police.
Further investigation revealed that four immigration police bureau officers were linked to the case. Arrest warrants have been issued against the officers, and the Chinese man has fled back to his home country. The victims were also in the news again on Monday after their car was waylaid by a motorcycle-borne assailant. The man received a ransom call demanding 1 million yuan (US$145,500) for his relatives’ freedom, and he handed over 200,000 yuan (US$29,100) in cryptocurrency to the suspect.
This incident has brought the spotlight on Thailand’s immigration police officers and their methods. While the officers claimed to be innocent, their involvement in the incident raises serious questions about the safety and security of foreigners in the country. The incident is also a reminder of the dangers of dealing with cryptocurrencies, which are increasingly being used by criminals to extort money from their victims.
The Thai government needs to take swift action to ensure that incidents like these do not occur again in the future. It is crucial that they investigate and punish those involved in the incident, including the immigration officers, and provide adequate protection to foreigners in the country. The incident has caused a lot of concern among the expat community in Thailand, and the government needs to take concrete steps to address their concerns and ensure their safety.
#Thailand #Chinese #coinscam #USDT #azcoinnews
This article was republished from azcoinnews.com
Thailand's SEC lifts investment caps on real estate and infrastructure-backed ICOs, aiming to align risks with opportunities, fostering innovation, and more.
#ico #Thailand #SEC
https://blockchainreporter.net/thailands-sec-lifts-digital-asset-investment-caps-on-real-estate-and-infrastructure-backed-icos/
#ico #Thailand #SEC
https://blockchainreporter.net/thailands-sec-lifts-digital-asset-investment-caps-on-real-estate-and-infrastructure-backed-icos/
comment if you received transfers from third party #Thailand #USDTfree #BTC #altcoins #BlackRock $BTC
Thai SEC Considers Lifting Investment Limits For Asset-Backed ICOs To Boost Digital Investments
The Thai Securities and Exchange Commission (SEC) has approved a revision of investment criteria in digital tokens, as well as digital asset custody service and other criteria related to digital asset business.
This move aims to provide adequate and appropriate investor protection mechanisms corresponding to the risks of digital assets. The SEC supports the use of technology in fundraising and seeks to benefit the growth of the capital market and the digital economy sustainably.
In order to achieve these goals, the SEC has made several important points. Firstly, it has removed restrictions on retail investors’ investments in digital tokens for investment (investment token), particularly those with real estate or real estate revenue streams as underlying assets and those with infrastructure activities or income streams from infrastructure businesses as reference assets.
The investment amount of retail investors was previously limited to no more than 300,000 baht ($8,780) per person per offering in all cases, but this restriction has now been lifted to be in line with the risk of the product.
Secondly, the SEC has reviewed regulations to support custodial wallet providers in providing services to digital asset business operators. Such providers must be related in a manner that has a major shareholder together if it is a listed company and its subsidiaries in the group of companies that have expertise, experience, and readiness to store customer assets comparable to financial assets. They must also have the expertise and readiness to manage relevant risks and comply with independence criteria as specified by the SEC.
Thirdly, digital asset business operators who wish to undertake other businesses must obtain other business approvals from the SEC before proceeding, in order for the SEC to more efficiently monitor digital asset business operations.
Finally, the criteria for the credibility of digital asset business operators have been improved by raising the qualifications of directors, executives, and major shareholders of digital asset business operators. Such persons must not be directors, executives, or major shareholders of companies whose licenses have been denied, revoked, or had license applications withdrawn within the six months prior to the date of submission of the application for approval.
They must also not have a history of participating in or supporting wrongdoings of companies involved in securities business, futures contracts, or digital asset business without permission. Digital asset business operators must not provide services through illegal digital asset operators to enhance the quality and credibility of the overall digital asset market.
The SEC has published a public hearing document on the principle of revising these rules on its website. Related and interested parties can express their opinions at the website or via email until April 27, 2016. This move by the Thai SEC aims to provide investor protection mechanisms corresponding to the risks of digital assets while also supporting the growth of the capital market and the digital economy sustainably.
#Thailand #SECThai #crypto2023 #BTC #azcoinnews
This article was republished from azcoinnews.com
This move aims to provide adequate and appropriate investor protection mechanisms corresponding to the risks of digital assets. The SEC supports the use of technology in fundraising and seeks to benefit the growth of the capital market and the digital economy sustainably.
In order to achieve these goals, the SEC has made several important points. Firstly, it has removed restrictions on retail investors’ investments in digital tokens for investment (investment token), particularly those with real estate or real estate revenue streams as underlying assets and those with infrastructure activities or income streams from infrastructure businesses as reference assets.
The investment amount of retail investors was previously limited to no more than 300,000 baht ($8,780) per person per offering in all cases, but this restriction has now been lifted to be in line with the risk of the product.
Secondly, the SEC has reviewed regulations to support custodial wallet providers in providing services to digital asset business operators. Such providers must be related in a manner that has a major shareholder together if it is a listed company and its subsidiaries in the group of companies that have expertise, experience, and readiness to store customer assets comparable to financial assets. They must also have the expertise and readiness to manage relevant risks and comply with independence criteria as specified by the SEC.
Thirdly, digital asset business operators who wish to undertake other businesses must obtain other business approvals from the SEC before proceeding, in order for the SEC to more efficiently monitor digital asset business operations.
Finally, the criteria for the credibility of digital asset business operators have been improved by raising the qualifications of directors, executives, and major shareholders of digital asset business operators. Such persons must not be directors, executives, or major shareholders of companies whose licenses have been denied, revoked, or had license applications withdrawn within the six months prior to the date of submission of the application for approval.
They must also not have a history of participating in or supporting wrongdoings of companies involved in securities business, futures contracts, or digital asset business without permission. Digital asset business operators must not provide services through illegal digital asset operators to enhance the quality and credibility of the overall digital asset market.
The SEC has published a public hearing document on the principle of revising these rules on its website. Related and interested parties can express their opinions at the website or via email until April 27, 2016. This move by the Thai SEC aims to provide investor protection mechanisms corresponding to the risks of digital assets while also supporting the growth of the capital market and the digital economy sustainably.
#Thailand #SECThai #crypto2023 #BTC #azcoinnews
This article was republished from azcoinnews.com
#Thailand Cracks Down on Deceptive #Crypto Ads: Protecting Investors or Stifling Innovation?
Thailand's SEC is clamping down on misleading crypto ads, aiming to shield investors from unrealistic promises and potential scams. Advertisers are being warned against exaggerating returns and failing to disclose risks.
This follows similar actions by regulators worldwide. However, some worry these measures might stifle innovation within the Thai crypto space.
#CryptocurrencyAlert #cryptoniteuae
Thailand's SEC is clamping down on misleading crypto ads, aiming to shield investors from unrealistic promises and potential scams. Advertisers are being warned against exaggerating returns and failing to disclose risks.
This follows similar actions by regulators worldwide. However, some worry these measures might stifle innovation within the Thai crypto space.
#CryptocurrencyAlert #cryptoniteuae
Cryptocurrency enthusiast Armando Pantoja has highlighted Ripple's ongoing expansion and potential adoption of XRP in Thailand.
He shared a letter from Ripple to Thai authorities, indicating negotiations about adopting XRP.
Pantoja noted that Thailand, which recently applied to join the BRICS nations, might link its interest in XRP to other BRICS countries.
Ripple's letter comments on a Thai discussion document titled 'The Future Path of Thailand's Retail Central Bank Digital Currency,' showing Ripple's active involvement in shaping Thailand's digital currency future.
Exciting times ahead for XRP!
#Xrp🔥🔥 #Ripple💰 #Thailand #BinanceTournament
He shared a letter from Ripple to Thai authorities, indicating negotiations about adopting XRP.
Pantoja noted that Thailand, which recently applied to join the BRICS nations, might link its interest in XRP to other BRICS countries.
Ripple's letter comments on a Thai discussion document titled 'The Future Path of Thailand's Retail Central Bank Digital Currency,' showing Ripple's active involvement in shaping Thailand's digital currency future.
Exciting times ahead for XRP!
#Xrp🔥🔥 #Ripple💰 #Thailand #BinanceTournament
Thailand Delays Digital Money Handout, Critics Call for Probe. 🇹🇭
Thailand's government has postponed the launch of a digital money program aimed at boosting its economy, leading to calls for an investigation by opposition leaders.
1. Delayed Launch:
- The planned digital wallet scheme in Thailand, intended to distribute 10,000 baht (~$274) to citizens over 16 years old, has been delayed.
- The initial launch date of February 2024 has been pushed back to allow more time for system development.
2. Economic Stimulus:
- The Thai government's goal is to use the digital wallet to provide financial assistance to eligible citizens, with the aim of stimulating the local economy.
3. Security Concerns:
- The delay is attributed to the need for ensuring the security of the system supporting the digital grant wallet.
- Despite the postponement, the launch is expected to occur in the first quarter of 2024.
4. Funding Source Uncertainty:
- The sub-committee responsible for the program is still deliberating over the source of funds for the scheme.
- The estimated cost of the Pheu Thai Party's digital wallet scheme is 548 billion baht ($15 billion).
5. Economic Growth Expectations:
- The government had previously projected that the initiative would contribute to a 5% growth in the economy next year.
- Increased economic activity and tax revenue were expected to partially fund the program.
6. Legal Concerns:
- Former Thai Senator Rosana Tositrakul has expressed skepticism about the project and called for an election commission probe into its legality.
- Questions have arisen regarding the funding of the digital handout, with concerns about potential debt accumulation to cover the initiative's cost.
In Summary:
Thailand's decision to delay the digital money handout program has raised questions about funding, security, and legal concerns. It remains to be seen how this delay will impact the country's economic stimulus efforts.
#Thailand #BTC #bitcoin
Thailand's government has postponed the launch of a digital money program aimed at boosting its economy, leading to calls for an investigation by opposition leaders.
1. Delayed Launch:
- The planned digital wallet scheme in Thailand, intended to distribute 10,000 baht (~$274) to citizens over 16 years old, has been delayed.
- The initial launch date of February 2024 has been pushed back to allow more time for system development.
2. Economic Stimulus:
- The Thai government's goal is to use the digital wallet to provide financial assistance to eligible citizens, with the aim of stimulating the local economy.
3. Security Concerns:
- The delay is attributed to the need for ensuring the security of the system supporting the digital grant wallet.
- Despite the postponement, the launch is expected to occur in the first quarter of 2024.
4. Funding Source Uncertainty:
- The sub-committee responsible for the program is still deliberating over the source of funds for the scheme.
- The estimated cost of the Pheu Thai Party's digital wallet scheme is 548 billion baht ($15 billion).
5. Economic Growth Expectations:
- The government had previously projected that the initiative would contribute to a 5% growth in the economy next year.
- Increased economic activity and tax revenue were expected to partially fund the program.
6. Legal Concerns:
- Former Thai Senator Rosana Tositrakul has expressed skepticism about the project and called for an election commission probe into its legality.
- Questions have arisen regarding the funding of the digital handout, with concerns about potential debt accumulation to cover the initiative's cost.
In Summary:
Thailand's decision to delay the digital money handout program has raised questions about funding, security, and legal concerns. It remains to be seen how this delay will impact the country's economic stimulus efforts.
#Thailand #BTC #bitcoin
𝗝𝘂𝗹𝘆 𝟮𝟱, 𝟮𝟬𝟮𝟰
🚨🚨 JUST IN: Kamala Harris decided NOT to speak at #Bitcoin 🥇 2024 Conference in Nashville, CEO David Bailey confirms.
🚨🚨 Bitstamp has confirmed receiving assets related to #MtGox repayment plan. Details on transfer to be announced later.
🔥 JUST IN : #Thailand 🇹🇭 to Hand Out 10,000 Baht in Digital Money to 45 Million Citizens.
🔵 Spot Ethereum ETF trading volume surpasses $1 billion for the second day in a row.
🔥Senator Cynthia Lummis🇺🇸 is set to announce legislation for a strategic Bitcoin🥇 reserve this week.
🚨🚨 JUST IN: Kamala Harris decided NOT to speak at #Bitcoin 🥇 2024 Conference in Nashville, CEO David Bailey confirms.
🚨🚨 Bitstamp has confirmed receiving assets related to #MtGox repayment plan. Details on transfer to be announced later.
🔥 JUST IN : #Thailand 🇹🇭 to Hand Out 10,000 Baht in Digital Money to 45 Million Citizens.
🔵 Spot Ethereum ETF trading volume surpasses $1 billion for the second day in a row.
🔥Senator Cynthia Lummis🇺🇸 is set to announce legislation for a strategic Bitcoin🥇 reserve this week.
JUST IN:
Thailand removes crypto trading tax to position itself as a digital asset hotspot
Thailand's decision to remove taxes on crypto trading aims to attract more people interested in digital assets.
With some of the smartest people in the world involved in crypto, countries are competing to draw them in.
#Thailand #Write2Earn
Thailand removes crypto trading tax to position itself as a digital asset hotspot
Thailand's decision to remove taxes on crypto trading aims to attract more people interested in digital assets.
With some of the smartest people in the world involved in crypto, countries are competing to draw them in.
#Thailand #Write2Earn
🇹🇭😱Shaking Hands with Thai Billionaire Ratanavadi, Binance Made the Expected Statement!
Binance and Gulf Innova, a subsidiary of Gulf Energy Development, said that their joint venture crypto exchange Binance Thailand is now open for trading.
“It is a great honor to finally announce the launch of our local platform to the public in Thailand. ”We have been working closely with Thai regulators over the past year and have been making significant efforts for detailed planning," Gulf Binance CEO Nirun Fuwattananukul said in a statement.
Binance TH said that while providing digital asset exchange services with Thai baht trading pairs, integrating with local banks in Thailand, it has partnered with Binance Kazakhstan for brokerage services under the supervision of the Thai Sec.
“With the full operation of our joint venture Binance Th in Thailand to the public in Thailand, we will maintain our unwavering commitment to security, transparency and quality of service. Blockchain technology and digital assets carry the power to enable financial inclusion, "added Richard Teng, CEO of Binance. “This is a strategic step that sets the stage for Thailand's upcoming role as a key player in the global digital finance environment.”
#binance #BNB #Thailand
Binance and Gulf Innova, a subsidiary of Gulf Energy Development, said that their joint venture crypto exchange Binance Thailand is now open for trading.
“It is a great honor to finally announce the launch of our local platform to the public in Thailand. ”We have been working closely with Thai regulators over the past year and have been making significant efforts for detailed planning," Gulf Binance CEO Nirun Fuwattananukul said in a statement.
Binance TH said that while providing digital asset exchange services with Thai baht trading pairs, integrating with local banks in Thailand, it has partnered with Binance Kazakhstan for brokerage services under the supervision of the Thai Sec.
“With the full operation of our joint venture Binance Th in Thailand to the public in Thailand, we will maintain our unwavering commitment to security, transparency and quality of service. Blockchain technology and digital assets carry the power to enable financial inclusion, "added Richard Teng, CEO of Binance. “This is a strategic step that sets the stage for Thailand's upcoming role as a key player in the global digital finance environment.”
#binance #BNB #Thailand
Binance Pushes for Global Expansion
Last month, #Binance unveiled its joint venture crypto exchange Binance Thailand, which came in collaboration with Gulf Innova, a subsidiary of Gulf Energy Development.
Binance Thailand, abbreviated as Binance TH, provides a platform for digital asset exchange services with Thai baht trading pairs.
It has also integrated with local banks in Thailand and forged a partnership with Binance Kazakhstan for brokerage services, all under the watchful supervision of Thailand’s SEC.
The move came as Binance.US and its global parent company, Binance, have faced regulatory scrutiny in recent months.
In June, the Securities and Exchange Commission (SEC) initiated an enforcement action against them, alleging the sale of unregistered securities.
The SEC lawsuit named Binance founder Changpeng Zhao as one of the defendants, accusing him of controlling Binance.US despite claiming it operated independently.
In November, Zhao stepped down as CEO and pleaded guilty to an anti-money laundering violation, agreeing to pay a $50 million fine.
Binance, as a company, also settled with the Justice Department, the Treasury Department, the Commodity Futures Trading Commission, and the Office of Foreign Assets Control, paying a hefty $4.3 billion in penalties
#Write2Earn #Thailand #USACryptoTrends $BNB
Last month, #Binance unveiled its joint venture crypto exchange Binance Thailand, which came in collaboration with Gulf Innova, a subsidiary of Gulf Energy Development.
Binance Thailand, abbreviated as Binance TH, provides a platform for digital asset exchange services with Thai baht trading pairs.
It has also integrated with local banks in Thailand and forged a partnership with Binance Kazakhstan for brokerage services, all under the watchful supervision of Thailand’s SEC.
The move came as Binance.US and its global parent company, Binance, have faced regulatory scrutiny in recent months.
In June, the Securities and Exchange Commission (SEC) initiated an enforcement action against them, alleging the sale of unregistered securities.
The SEC lawsuit named Binance founder Changpeng Zhao as one of the defendants, accusing him of controlling Binance.US despite claiming it operated independently.
In November, Zhao stepped down as CEO and pleaded guilty to an anti-money laundering violation, agreeing to pay a $50 million fine.
Binance, as a company, also settled with the Justice Department, the Treasury Department, the Commodity Futures Trading Commission, and the Office of Foreign Assets Control, paying a hefty $4.3 billion in penalties
#Write2Earn #Thailand #USACryptoTrends $BNB
🚨BIG BREAKING 🚨:THAILAND GOES BIG ON BITCOIN
Thailand slashes crypto trade tax in push to become digital asset hotspot.Ah, Thailand, positioning itself as a digital asset hotspot. The move to slash crypto trade tax is a strategic play in their bid to become an attractive hub for the ever-evolving world of digital currencies. By reducing barriers and fostering an open environment, Thailand seeks to cultivate innovation and stimulate growth in the crypto space. Its fascinating to witness how nations are adapting to this new financial landscape, embracing the opportunities presented by blockchain technology. Lets keep a close eye on Thailands journey as it further establishes itself on the global cryptocurrency map. #Bitcoin #Thailand #CryptoRevolution
#Write2Earn #TradeNTell
$BTC $ETH $BNB
Thailand slashes crypto trade tax in push to become digital asset hotspot.Ah, Thailand, positioning itself as a digital asset hotspot. The move to slash crypto trade tax is a strategic play in their bid to become an attractive hub for the ever-evolving world of digital currencies. By reducing barriers and fostering an open environment, Thailand seeks to cultivate innovation and stimulate growth in the crypto space. Its fascinating to witness how nations are adapting to this new financial landscape, embracing the opportunities presented by blockchain technology. Lets keep a close eye on Thailands journey as it further establishes itself on the global cryptocurrency map. #Bitcoin #Thailand #CryptoRevolution
#Write2Earn #TradeNTell
$BTC $ETH $BNB
Binance is launching an exchange in Thailand in partnership with a major utility
In early 2024, #Binance intends to launch a cryptocurrency exchange in #Thailand through a collaborative effort with #Gulf Energy Development, a prominent local energy corporation.
According to a registration made by Gulf Energy on November 15th with the Stock Exchange of Thailand, the Gulf Binance endeavor will commence as an exclusive offering, limited to invitation-only participants. However, it is anticipated that the venture would be made available to the general public by early 2024. On November 10th, the company obtained authorization from the Thai Securities and Exchange Commission (SEC).
A representative from Binance has verified to Cointelegraph that the platform was first introduced as an exclusive exchange, with further information to be disclosed when it becomes accessible.
Gulf Binance obtained licenses as a digital asset operator from the Ministry of Finance in Thailand on May 26. These licenses enable Gulf Binance to operate a cryptocurrency exchange that is subject to regulation by the Securities and Exchange Commission (SEC) of Thailand. Binance has previously announced its intention to establish a subsidiary in Thailand during the fourth quarter of 2023.
During the same day, Richard Teng, the regional head of Asia, Europe, and the Middle East and North Africa at Binance, expressed the intention of leveraging the established local presence and network of Gulf Binance. The objective of Gulf Binance is to demonstrate the potential of blockchain technology to users in the region.
Gulf Energy is a prominent natural gas distribution company in Thailand, known for its substantial size and market presence. The organization was established and is currently overseen by Sarath Ratanavadi, a prominent Thai businessman. The company engages in active investments across many industry verticals, encompassing renewable power generating, infrastructure development projects, and digital infrastructure enterprises, among other sectors.
Gulf Energy made an investment in Binance's subsidiary, Binance.US, which operates in the United States. During the month of April in the year 2022, the company made a public announcement regarding its investment in the "Series Seed Preferred Stock" issued by BAM Trading Services, which serves as the operator for Binance.US.
In the previous month, Binance provided support to the Royal Thai Police in the confiscation of a total of $277 million from individuals engaged in fraudulent activities. In the aftermath of the disclosure, a total of 3,200 individuals reached out to the relevant authorities in order to initiate the process of seeking financial restitution.
During that period, Tigran Gambaryan, the head of financial crime compliance at Binance, emphasized the company's intention to collaborate with many global agencies in order to contribute to the restoration of confidence within the digital-asset ecosystem.
According to a registration made by Gulf Energy on November 15th with the Stock Exchange of Thailand, the Gulf Binance endeavor will commence as an exclusive offering, limited to invitation-only participants. However, it is anticipated that the venture would be made available to the general public by early 2024. On November 10th, the company obtained authorization from the Thai Securities and Exchange Commission (SEC).
A representative from Binance has verified to Cointelegraph that the platform was first introduced as an exclusive exchange, with further information to be disclosed when it becomes accessible.
Gulf Binance obtained licenses as a digital asset operator from the Ministry of Finance in Thailand on May 26. These licenses enable Gulf Binance to operate a cryptocurrency exchange that is subject to regulation by the Securities and Exchange Commission (SEC) of Thailand. Binance has previously announced its intention to establish a subsidiary in Thailand during the fourth quarter of 2023.
During the same day, Richard Teng, the regional head of Asia, Europe, and the Middle East and North Africa at Binance, expressed the intention of leveraging the established local presence and network of Gulf Binance. The objective of Gulf Binance is to demonstrate the potential of blockchain technology to users in the region.
Gulf Energy is a prominent natural gas distribution company in Thailand, known for its substantial size and market presence. The organization was established and is currently overseen by Sarath Ratanavadi, a prominent Thai businessman. The company engages in active investments across many industry verticals, encompassing renewable power generating, infrastructure development projects, and digital infrastructure enterprises, among other sectors.
Gulf Energy made an investment in Binance's subsidiary, Binance.US, which operates in the United States. During the month of April in the year 2022, the company made a public announcement regarding its investment in the "Series Seed Preferred Stock" issued by BAM Trading Services, which serves as the operator for Binance.US.
In the previous month, Binance provided support to the Royal Thai Police in the confiscation of a total of $277 million from individuals engaged in fraudulent activities. In the aftermath of the disclosure, a total of 3,200 individuals reached out to the relevant authorities in order to initiate the process of seeking financial restitution.
During that period, Tigran Gambaryan, the head of financial crime compliance at Binance, emphasized the company's intention to collaborate with many global agencies in order to contribute to the restoration of confidence within the digital-asset ecosystem.
💥💥🚀🚀💥💥
Thailand has given the green light for token earnings to be exempt from personal income tax.
The Thai government recently approved tax breaks for individuals holding investment tokens to encourage their use in fundraising. According to a report by the Bangkok Post on March 13, the cabinet gave the green light for tax breaks for investment tokenholders. The Director-General of Thailand’s Revenue Department, Kulaya Tantitemit, mentioned that those who profit from investment tokens and have a 15% withholding tax deducted can exclude this income when calculating their personal income tax. These tax measures, effective since Jan. 1, are aimed at boosting fundraising through investment tokens and positioning the country as an investment hub to enhance the economy. However, the tax break will only apply to individuals who do not seek refunds or claim a tax credit. Additionally, the government also waived corporate income tax and value-added tax (VAT) for investment token issuers to provide them with an alternative fundraising method. Deputy Government Spokesman Rachada Dhnadirek stated that this move is expected to bring in around $3.7 billion in capital over the next two years.
#TaxFreeCrypto #Thailand #HotTrends
Thailand has given the green light for token earnings to be exempt from personal income tax.
The Thai government recently approved tax breaks for individuals holding investment tokens to encourage their use in fundraising. According to a report by the Bangkok Post on March 13, the cabinet gave the green light for tax breaks for investment tokenholders. The Director-General of Thailand’s Revenue Department, Kulaya Tantitemit, mentioned that those who profit from investment tokens and have a 15% withholding tax deducted can exclude this income when calculating their personal income tax. These tax measures, effective since Jan. 1, are aimed at boosting fundraising through investment tokens and positioning the country as an investment hub to enhance the economy. However, the tax break will only apply to individuals who do not seek refunds or claim a tax credit. Additionally, the government also waived corporate income tax and value-added tax (VAT) for investment token issuers to provide them with an alternative fundraising method. Deputy Government Spokesman Rachada Dhnadirek stated that this move is expected to bring in around $3.7 billion in capital over the next two years.
#TaxFreeCrypto #Thailand #HotTrends
