digital assets

  • Economy

    SCB-Bitkub deal fizzles as young investors lose big on crypto

    As the crypto market cools and young, naïve investors lose big, the deal for Siam Commercial Bank Group (SCB) to acquire a majority stake in Thai digital asset exchange Bitkub Online has fallen apart. The deal, announced in November of last year, pushed Bitkub Online’s value over US$1 billion and drove the company’s cryptocurrency to triple in value overnight. SCB’s…

  • Thailand

    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…

  • Economy

    Digital assets as payment requires more regulation in Thailand

    After studying the risks and benefits of using digital assets and cryptocurrencies to pay for goods and services, a coalition of financial bodies have decided that more regulation is necessary in Thailand. The Ministry of Finance, along with the Bank of Thailand and the Securities and Exchange Commission, have partnered together to assess the regulation needed for crypto usage in…

  • Thailand

    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…

  • Technology

    Free NFTs! Art project website releases thousands of NFTs

    In what he described as an art project that was designed to show how ridiculous the new fad is, an Australian man has made thousands of NFTs free on a website. Non-fungible tokens are unique digital units that use blockchain technology to give proof of ownership to digital assets, including easily copyable things like photos and videos. Enthusiasts view NFTs…

  • Economy

    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…

  • Economy

    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

    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…