VAT: Revenue for Public Care

VAT: Revenue for Public Care

VAT: Revenue for Public Care BANGKOK (NNT) – Adjustment of Value Added Tax (VAT) has recently become an issue used to attack the government, with rumors claiming the administration is looking to raise VAT from 7 percent to 10 due to its poor financial standing, despite this not being the case and the government consistently…

Leader of Thai cryptocurrency exchange warns regulators about tight restrictions

Leader of Thai cryptocurrency exchange warns regulators about tight restrictions

Leader of Thai cryptocurrency exchange warns regulators about tight restrictions The co-founder of Thailand’s largest cryptocurrency exchange has slammed regulators for plans to set requirements that would limit who can trade cryptocurrency. Following a drastic spike in domestic crypto trading, Thailand’s Securities and Exchange Commission, decided to look into tighter restrictions and say traders will…

BoT Will Launch Retail CBDC to Secure Financial Services

BoT Will Launch Retail CBDC to Secure Financial Services

BoT Will Launch Retail CBDC to Secure Financial Services BANGKOK (NNT) – The Bank of Thailand (BoT) will launch the Retail Central Bank Digital Currency (CBDC) by the second quarter next year to provide Thais with access to more convenient and secure financial services. BoT assistant governor Vachira Arromdee said the development of a Retail CBDC…

World Bank supports continued government economic stimulus

World Bank supports continued government economic stimulus BANGKOK (NNT) – The World Bank has encouraged the Thai government to continue its economic stimulus measures with a focus on businesses directly impacted by the COVID-19 pandemic such as those in the tourism sector. Senior country economist of the World Bank for Thailand Kiatipong Ariyapruchya has noted…

Undue politicisation at finance and BoT

Thai Central Bank Outlines Plans for Digital Baht

Thai Central Bank Outlines Plans for Digital Baht The Bank of Thailand, the country’s central bank, published today guidance detailing its views. In brief The Bank of Thailand splits stablecoins into two: baht-backed and others. There’s room to influence policy-making for the Thai crypto industry as the bank also announced it’s seeking input. The Bank…

Bank of Thailand warns against illegal baht-backed stablecoin

Bank of Thailand warns against illegal baht-backed stablecoin Thailand’s central bank is warning the public against using a stablecoin that purports to be backed by the country’s sovereign currency. The regulator claims that the stablecoin exposes the users to such risks as money laundering and cybercrimes. The Bank of Thailand (BoT) issued the warning against…

Relentless Rise Of Thai Baht Causes Exporting Concerns

Thai Central Bank Warns against Baht-Denominated Stablecoin

Thai Central Bank Warns against Baht-Denominated Stablecoin Private issuance of any monetary alternative violates the country’s currency act. The Bank of Thailand (BoT) has issued a warning on Wednesday against Thai Baht Digital (THT), a baht-denominated stablecoin, and asked the public not to make any sort of investment in it. The central bank raised alarm…