Day: October 19, 2021

Currently, cryptocurrencies and digital tokens are being used as a fundraising tool through digital token offerings. As a medium of exchange, they can also be traded in cryptocurrency and digital token exchanges. In Thailand, the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018) (the ‘Emergency Decree”) was passed to provide a legal mechanism to control this emerging sector of the economy given its significant growth and the risks it posed to the public from money laundering and fraud. This article shall provide a brief overview of the Emergency Decree and some key matters it covers. According to Section 3 of the Emergency Decree the terms ‘cryptocurrency’ and ‘digital token’ are defined as follows: ‘Cryptocurrency’ means “an electronic data unit created on an electronic system or network for the purpose of being used as a medium of exchange for the […]