Govt ready to regulate digital currencies

08.03.18

Deputy Prime Minister Somkid Jatusripitak said the government would introduce a law to regulate digital currencies within one month.

He said on Wednesday that Bank of Thailand and the Securities and Exchange Commission (SEC) must catch up with this matter.

Somkid cautioned private companies that were in a rush to raise capital through initial coin offerings before the law is launched, adding that the SEC had advised that speculation on digital currency is risky.

“This matter is not prohibited, but there must be protection for damage that may arise,” he said.

Wissanu Krea-ngam, also a deputy prime minister, said that a discussion had been held on the introduction of a law to regulate digital currencies, and another discussion would soon be held with the Ministry of Justice, Ministry of Finance, the central bank, the SEC and the Council of State.