Thailand Crypto News

Following the ReDeFiNE Tomorrow virtual conference, SCB 10X revealed future plans for DeFi/traditional finance integration.

Authorities said such offerings had “no clear substance” or “underlying value” and gave local exchanges 29 days to delist the tokens.

The volatile launch of a new Thai yield farming platform has drawn the regulator's attention to DeFi.

The country is introducing stricter laws for crypto businesses as it embraces the space.

DeFi projects have enjoyed massive growth over the past year. And some institutions don’t want to be left behind.

Late on June 1, Thailand’s high-flying OmiseGo rebranded to OMG Network. The project was one of 2017’s biggest ICOs, raising $25 million and going on to be valued at over a billion dollars in the successive months.  The project also rolled out the Plasma sidechain yesterday, promising scalability for developers and a faster network for […]

The Siam Commercial Bank (SCB), the largest commercial bank in Thailand, retracted a statement about using Ripple’s XRP token. The bank quickly issued a correction saying it had no plans on using XRP “as of now.” SCB hints at XRP integration Thailand’s largest commercial bank, the Siam Commercial Bank (SCB), caused quite a stir after […]

Thirty people in Bangkok filed complaints with Thailand’s Technology Crime Suppression Division after they were allegedly scammed by cryptocurrency cloud mining company CryptoMining.Farm, the Bangkok Post reported. A total of 140 victims were allegedly scammed out of more than $1.3 million. The allegations state that the investors were swindled out of 42 million Baht—about $1.34 million. […]

Elevated Returns, a pioneer of Trophy Real estate Tokenization, has recently announced a partnership with Securitize, a compliance platform, and protocol for issuing and managing digital securities on the blockchain. This partnership will allow Elevated Returns to spur their real estate tokenization program in Southeast Asia through the Securitize technology issuance platform. Elevated Returns recently […]

Thailand’s main opposition Democrat Party has become the first in the world to use blockchain technology in a live electronic voting system involving more than 120,000 voters for its primary election, Zcoin announced in a press release on Nov. 13. Thailand Becomes a Leader in Blockchain Adoption Despite a turbulent political atmosphere, the kingdom of […]

Thailand’s Securities and Exchange Commission (SEC) has issued a warning to investors against putting their money into initial coin offerings (ICOs) that are not recognized and authorized by the SEC. On Oct. 25, the Bangkok Post reported that the Thai market regulator has warned against investing in ICOs promoted through a plethora of online media, […]

Remittance payments are part of many foreign workers’ daily lives; however, traditional systems can be slow and costly. In Japan, there are approximately 45,000 Thai employees working around the clock to send money home to their families–and Ripple’s solution RippleNet is aiming to make the process easier. RippleNet, a decentralized global network for banks and […]

Ethereum-based payment platform OmiseGO announced a major step forward in the quest for DLT scalability, releasing an early alpha of a Plasma-based scaling solution that may potentially increase the transaction capacity of the OMG network. Announced via a Medium post, the GitHub repository published by the OmiseGO team provides an insight into OmiseGO’s Tesuji milestone. Tesuji, […]

The central Bank of Thailand (BoT) revealed on Wednesday plans to introduce a state-issued cryptocurrency on R3’s Corda blockchain. The move signifies the first such development in the South East Asian region. Thailand’s Hopes for Economic Boost As per details of a press release, BoT referred to the protocol as a “wholesale” Central Bank Digital […]

Seven cryptocurrency businesses were approved by Thai regulators, Aug. 16, to legally conduct digital asset operations as part of the country’s shift toward optimizing the local blockchain, ICO and cryptocurrency ecosystem. Thailand’s Cryptocurrency Push According to the Thai SEC, seven businesses are allowed to pursue their business as legally-recognized operators immediately. Among the businesses are several […]

Thailand’s forward-leaning crypto policy has catalyzed rapid blockchain platform development, with the Thai SEC receiving 20 applications for new digital asset exchanges and more than 50 applications for token offerings since launching new regulatory framework in July. The crypto regulation framework in Thailand, which came into effect July 16, has legalized domestic cryptocurrency markets following two […]

Continuing its decisive development spree for the optimal growth of the cryptocurrency sector, the Bank of Thailand (BoT) passed a resolution to allow local banks to set-up cryptocurrency-focused subsidiaries for dealing with related businesses. Thailand’s Cryptocurrency Push As reported by local news outlet Blognone on August 3, Thailand’s locally incorporated banks can now provide cryptocurrency […]

The Governor of the Bank of Thailand, Dr. Veerathai Santiprabhob, alluded to the use of blockchain technology as part of a national effort to further Thailand’s economic potential.