cryptocurrency
- Business News
Thailand woos crypto companies with tax waiver
Thailand‘s Cabinet approved a tax waiver for cryptocurrency firms yesterday. The Cabinet decided that companies raising funds by issuing digital tokens for investment are exempt from paying corporate income tax and value-added tax (VAT), according to a government spokesperson. Once the new tax waiver is implemented, crypto companies can issue investment tokens in Thailand without any tax on primary or secondary…
- World News
Frozen assets await crypto-thaw that may never come
Those misguided, greedy or incompetent souls still tied to volatile digital assets may be about to discover that the worst is still to come. Frozen assets await a crypto-thaw that may never come. Businesses and exchanges are set to crumble and fall in the months ahead, extending the rout of cryptocurrencies that may yet turn out to be terminal. According to…
- World News
After year of cryptocurrency turmoil, investors see long winter ahead
After a year of cryptocurrency turmoil, exchanges and investors are hoping for at least a rebound in 2023. Last year’s volatility tested even the truest of believers as exchanges and funds went into meltdown. Valuations collapsed, enterprises folded and thousands of people lost their jobs. Can the industry reemerge stronger than ever? Can it reemerge at all? After a cruel…
- Crime News
Bitcoin mine raided over suspiciously big electricity bill
A commercial building in Nang Rong district, Buri Ram, has been running up a suspiciously big electricity bill. The premises – two storey-building with two shop fronts – were raided by police Sunday, is a search for an illegal bitcoin mining operation. China’s recent ban and crackdown on cryptocurrency has fuelled a cryptocurrency mining boom in Thailand as small investors…
- Hot News
Australia charges Chinese nationals in US online scam totalling over US$100 million in losses
Four Chinese nationals in Australia are being charged with an online investment scam that allegedly caused losses of over US$100 million. The scam, which was mostly carried out in the US, involved the manipulation of legitimate electronic trading platforms that were licensed to foreign exchange brokers. Those brokers then allegedly provided the software to their clients, resulting in major financial…
- World News
Fraudulant websites offer refunds on FTX collapse
With the collapse of cryptocurrency exchange FTX, crypto investors that lost it all are being warned to beware of misinformation and fake websites promising to help recoup their losses. Singapore police issued a warning over the weekend about a website that says it can help FTX investors to recover their lost crypto when the company declared bankruptcy. On November 11,…
- Technology News
FTX crypto exchange files for bankruptcy
The American crypto exchange FTX filed for Chapter 11 bankruptcy today following several days of turmoil amid a failed buyout. Founder and CEO Sam Bankman-Fried announced his official resignation yesterday. The cryptocurrency world has been severely shaken by the second-largest exchange collapsing. In 2020, FTX was valued at only a few hundred million US dollars but skyrocketed to a US$1…
- World News
Call centre trafficked forced labour to sell crypto via Tinder
When was the last time you got a legitimately good investment tip from Tinder? Never? Scammers continue to use dating apps to con people into fake crypto investments. On Monday, Thai police announced the arrest of a Chinese leader of a multi-country gang who trafficked people to work in call centres selling crypto scams. The phoney call centre was uncovered…
- Technology News
Coinbase tapped by Google for crypto payments
In a boost for the cryptocurrency world, tech goliath Google announced plans to allow some customers to pay for cloud services using Coinbase, a leading crypto exchange platform. The announcement from Google gave crypto a much-needed kick after an overall rough year. The rollout will begin with access solely to those customers working in the Web3 industry, allowing selected people to…
- Guides
The types of NFTs you should know about in 2022
NFT (Non-Fungible Token) has been all the rage for a while now. Contrary to what many believe, NFTs are more than just images with a hefty price. They have a limitless number of potential applications. And every day, we’re seeing an increasing variety on the internet. It seems like they have completely taken over the metaverse and the world of…
- Hot News
Five senior Koh Samui police officers transferred over two criminal case investigations
Five senior Koh Samui police officers have reportedly been transferred over two criminal cases on the island. Surat Thani provincial police chief, Sathit Phonphinit, signed the order to transfer the officers pending factual evidence in the two cases. The order was carried out on Wednesday, one day after it was signed. One of the criminal cases being investigated allegedly involves…
- Crime News
Foreign gang allegedly extorts Russian couple of crypto worth US$50k in Thailand
A Russian couple in Koh Samui in southern Thailand claims that a gang of six foreign men – including Russians, Kazakhs and a German – extorted them of cryptocurrency worth US$50,000, or 1.89 million baht. On Sunday, 31 year old Evgeny Abdullin and his wife Ekaterina Abdullin filed a complaint at Koh Samui Police Station. The couple said that six…
- Sponsored
A Mission To Unchain And Rescue The Working Elephants With Digital Art – Unchained Elephants
Thailand has long been a prized tourist destination, with people travelling globally to visit. A popular bucket list activity for many of these people is a visit to an elephant camp. For the tourists, it is a memorable, once-in-a-lifetime experience, being so close to such a magnificent creature. For the elephant, however, it is a lifetime’s experience of torment, fear…
- World News
Cryptocurrency crash: what is happening?
The global market of cryptocurrency dipped below US$1 trillion to $962 billion for the first time yesterday since 2020. Bitcoin fell below US$23,000, hitting its lowest point since December 2020. Over the weekend, Ethereum collapsed by 24%, falling to its lowest level in more than 14 months. Meanwhile, crypto lending company Celsius froze withdrawals for its customers yesterday, claiming it…
- Crime News
Bangkok police arrest 6 Taiwanese nationals for crypto fraud
Police in Bangkok have arrested 6 Taiwanese men following a raid on a house in the Prawet district of the capital. The men are accused of conning over 500 people, mostly fellow Taiwanese or Chinese nationals, through fraudulent online cryptocurrency investment schemes. According to a Bangkok Post report, the arrests happened when officers from the Police Cyber Taskforce, accompanied by…
- Thailand News
Thailand exempts cryptocurrency transfer VAT until 2023
The Royal Thai Government Gazette has formally announced a VAT exemption for transferring cryptocurrency from now until the end of 2023. The cabinet had approved the exemption of the value added tax, or VAT, for transferring cryptocurrency or digital tokens in March. Yesterday, the decision was passed into Thai law and will be in effect from yesterday until December 31,…
- World News
Australia plans to sue Facebook owner over scam ads for cryptocurrency
Australian officials are suing Facebook’s owner, Meta Platforms, over scam ads for cryptocurrency schemes. The ads feature well-known Australians, including a politician and a businessman, who they claim endorse the schemes. In reality, the figures never endorsed the schemes, or approved the ads. Australia’s consumer protection commission said the ads also contained links to fake articles with quotes claiming to…
- Thailand video news
Thailand News Today | Health Ministry to declare covid endemic by July 1 (Thai style rules)
Tourism officials have shrugged off a US CDC notice which advised citizens to avoid travel to Thailand. Earlier this week, the US CDC added Thailand to its list of Level 4 countries, due to the ongoing Covid situation in the kingdom. However, Yuthasak Supasorn from the Tourism Authority of Thailand says that won’t make much of a difference to an…
- Thailand News
Thai government to ease tax rules for investments in digital assets
The Thai government has approved the easing of tax rules for digital assets in order to promote and develop the industry. The move comes amid a surge in cryptocurrency trading in the kingdom, according to a Reuters report. Finance Minister Arkhom Termpittayapaisith says the relaxed rules means cryptocurrency traders can offset annual losses against gains in the case of taxes…
- Thailand video news
Thailand News Update | Only Fans Girl “Shoots herself in the foot”
The cabinet eventually caved in this week by agreeing to cut the excise tax on diesel by three baht per litre, from the current 6 baht tax. This will for up to three months to help ease the impact of high energy prices on the cost of transport and consumer goods in Thailand.The cabinet approved halving the price until May…
- Travel Guides
Hotel trends to watch in 2022- Check-in like a VIP
If you are wondering what could be in store for hotels in 2022, this guide is for you. The twist and turns of changing restrictions have affected the hospitality industry to a great extent. The good news is that the hotels will be trying their very best to make you happy in this pandemic. Hotels have been incorporating new trends…
- Thailand News
Cryptocurrency ban in China fuels Thailand’s crypto mining boom
China’s recent ban and crackdown on cryptocurrency has fuelled a cryptocurrency mining boom in Thailand as small investors quickly buy up the equipment that are now useless in China. In September, China’s central bank declared all digital currency trading and mining illegal. Some of the largest Bitcoin mining operations in the world relocated while many smaller miners are now selling…
- Thailand News
Bank of Thailand concerned with banks trading in digital assets
The Bank of Thailand said they don’t want commercial banks to directly trade in cryptocurrency and digital assets due to their extreme volatility. Thai lenders have been investing more and more in digital asset exchanges in Thailand with several banks making deals in the digital currency space. Siam Commerical Bank recently purchased a 51% share of Bitkub for 17.85 billion…
- Property
Crypto and digital nomads could boost Thailand’s real estate market
As cryptocurrency is the new payment option of the modern era, many real estate developers are now supporting their payments through it. And, as it is still new to the Thai real estate market, experts say its growth potential is huge. As it can serve as a new alternative to real estate trading, it can help real estate developers offer…
- World News
7 people arrested over kidnap and torture of a cryptocurrency investor in Hong Kong
Seven people were arrested by Hong Kong police on Sunday over alleged involvement in the kidnap for ransom and torture of a man who was entangled in a cryptocurrency scam. According to police, the victim was badly beaten and assaulted with hammers and metal chairs by a gang and held captive for about a week. The 39 year old victim…
- World News
Indonesian religious council forbids crypto for Muslims
While cryptocurrency is growing steadily in popularity, Indonesia’s council of religious leaders have announced that crypto and digital assets are banned for Muslims. Indonesia holds the largest Muslim population of any country in the world, and the National Ulema Council is the religious authority that makes decisions based on Shariah law. In their deliberation and consultation with experts, they determined…
- Press Room
Cryptocurrency is now accepted at Silavadee Pool Spa Resort in Koh Samui
Press Release Silavadee Pool Spa Resort becomes the First Resort in Koh Samui to accept Cryptocurrency. Koh Samui, 2021 – Silavadee Pool Spa Resort is becoming the first resort in Koh Samui to accept cryptocurrency for hotel bookings worldwide. Miss Chonlada Soonthonvasu, Managing Director of Silavadee Pool Spa Resort said, “As the popularity of online booking channels grows, people are…
- Economy News
Bitkub company and crypto-coin value surges as SCB buys 51% of shares
Cryptocurrencies just got a big boost in Thailand as Siam Commercial Bank Group’s parent company SCBX struck a deal to take over 51% of shares of Bitkub from its parent company Bitkub Capital Group Holdings, a deal valued at 17.85 billion baht. SCB Securities will hold the shares and collaborate with Bitkub to create a national infrastructure with a digital…
- Thailand News
Plans for digital or crypto assets – the TAT Coin – to grow tourism
The Tourism Authority of Thailand is considering jumping into the world of digital assets by launching its own tourism-based utility token called the TAT Coin. Crypto is often looked at as the way of the future, and traders are considered high-value, big-spending tourists, especially those that work as digital nomads and stay long-term. Discussions are underway with the Securities and…
- World News
China announces cryptocurrency trading is illegal
China’s central bank has announced that all transactions using cryptocurrencies are illegal and have increased crackdown efforts on illegal mining of the currencies in China. Chinese banks have been prohibited from handling cryptocurrencies for nearly a decade, but traders have continued to buy and sell cryptocurrencies surreptitiously for years. China has also previously been considered one of the biggest producers…
