cryptoregulations

Thailand is refining its crypto tax regulations to support its growing digital economy. Here’s what you need to know for 2024:

📊 Tax Rates & Categories:
Personal Income Tax: Profits from crypto trading or investments are taxed based on your income bracket (0% to 35%).Capital Gains Tax: Applies to profits from selling crypto assets.Withholding Tax: A 15% tax on dividends or profit-sharing from digital tokens.

📅 New 2024 Regulations:
Crypto Transfers: No VAT on transfers via licensed exchanges, brokers, and dealers (since January 2024).Income Tax Exemption: Profits from holding digital tokens for investment are exempt from personal income tax after a 15% withholding.Foreign Income Tax: All foreign-sourced crypto income is now taxed, even if earned before 2024, for residents living in Thailand for 180+ days.

🛠️ Taxable Activities: Trading, mining (income from sale/exchange), receiving crypto as payment, and gifts.

📈 Top Cryptos in Thailand:
Bitcoin ($BTC ): Now over $90K, with predictions for $200K by 2025.Ethereum ($ETH ): Trading over $3,000, driving decentralized apps and DeFi.Solana ($SOL ): Fast and low-cost transactions, trading over $190.

Thailand’s crypto tax landscape is evolving, with more clarity on digital assets and potential legalization of online gambling ahead. Stay informed to navigate these changes!
#cryptotax #ThailandCrypto #CryptoNews #CryptoRegulations #TheCoinRepublic

$BTC
During the latest Federal Reserve ($Fed) meeting, interest rates were left unchanged as widely anticipated by the markets. However, what grabbed attention was Fed Chair Jerome Powell’s stance on cryptocurrencies, which became a key discussion point toward the end of the press conference. Powell emphasized the importance of a constructive approach to digital assets while reiterating the central bank’s commitment to economic stability.
Interest Rates & Fed’s Stance on Inflation
The Federal Reserve maintained interest rates at 4.25%-4.5%, continuing its cautious monetary policy of the past three years. Powell reaffirmed his dedication to achieving a 2% inflation target, making it clear that the Fed is in no rush to cut interest rates despite market expectations. When asked about former President Donald Trump’s recent comments regarding economic policy, Powell declined to engage, staying focused on the Fed’s independent decision-making.
Powell’s View on Cryptocurrencies & Regulations
Powell also addressed the evolving role of cryptocurrencies within the financial system. He acknowledged that while digital assets bring innovation, their integration should be done within a well-regulated and risk-managed framework.
🔹 Banks & Crypto: Powell suggested that traditional financial institutions are better suited to handle digital asset transactions responsibly. He emphasized that the Fed is not against innovation but insisted that any technological advancement must be aligned with proper economic risk assessments.
🔹 Regulatory Developments: Powell hinted at upcoming regulatory improvements in the crypto sector, which aim to foster a safer and more effective financial environment. He indicated that a balanced approach would support innovation while ensuring market integrity and consumer protection.
Final Thoughts
Powell’s remarks underscore a measured but open approach toward cryptocurrency adoption, highlighting the need for regulatory clarity and risk mitigation. While the Fed remains cautious, Powell’s acknowledgment of crypto’s growing role in finance suggests that digital assets could see greater integration in the traditional banking system—provided that regulatory frameworks evolve to support their stability and security.
🚀 What do you think? Will clearer regulations help crypto thrive, or will traditional finance slow down its growth? Drop your thoughts below! 💬👇
#FedHODL #CryptoRegulations #Bitcoin #MicroStrategyAcquiresBTC #TrumpCryptoOrder

In a recent development, Deribit crypto exchange has announced its exit from Russia due to sanctions introduced by the European Union, according to the statement posted on its website. As a Dutch-owned platform, Deribit must adhere to EU sanctions. The exchange will no longer accept Russian nationals or residents as clients, unless exceptions apply.
” Due to EU sanctions against Russia, Deribit is no longer able to accept Russian nationals and Russian residents as its clients, unless an exception applies. Since Deribit’s parent company is Dutch, these EU sanctions are relevant to us,” the crypto exchange noted.
Due to EU sanctions, Deribit has restricted access to its platform for Russian nationals. Russian nationals can only use the exchange’s services if they are also citizens of an EEA member country or Switzerland, or if they have permanent residency in one of these countries.
Deribit Limits Russian Access: Some Residents Can Use Platform
For example,Russian nationals residing in Ireland or that are also nationals of Denmark can use Deribit services. However, Russians residing in the UAE are still prohibited from using the platform. Furthermore, the exchange does not make exceptions for Russian companies, which means they are also unable to access Deribit’s services.
An email from Deribit to clients explains that Russian accounts will enter “reduce-only mode” starting February 17, 2025, meaning traders can only close positions or place new orders that reduce risk. All open positions will be closed on March 29, 2025, but there will be no restrictions on withdrawing assets.
Originally founded in the Netherlands in 2016, Deribit is now based in Panama. This move followed a 2020 EU directive that required crypto platforms to identify customers through new rigorous anti-money-laundering (AML) rules.
In a statement, Deribit stated that they believe crypto markets should be accessible to everyone. They found the new regulations imposed by the EU to be too restrictive and costly for many traders. As a result, they chose to move to a more favorable regulatory environment.
#CryptoRegulations #RussiaCrypto #Write2Earn #BitcoinWhaleMove