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DFDL Discusses New Thai Regulations on Cryptocurrencies and Digital Assets in Bloomberg Article

DFDL’s Kunal Sachdev, Regional Legal Adviser, Jonathan Blaine, Thailand Tax Director, and Patipan Kongviriyagit, Thailand Senior Tax Manager jointly contributed an article featured in the June edition of Bloomberg Tax entitled ‘Digital Assets in Thailand: Regulating the Blockchain Asset Market’.

This article follows in the wake of recent legislative efforts by the Thai government to impose a regulatory and tax regime on cryptocurrencies along with other types of digital assets. These legislative efforts in May 2018 took the form of the Emergency Decree on Digital Asset Businesses 2018 (‘‘EDDAB’’) and the Emergency Decree on the Amendment to the Revenue Code 2018. The main thrust of this article involves outlining these new forms of assets to the uninitiated, describing the funding mechanisms for these assets such as Initial Coin Offerings (“ICOs”), and who the relevant stakeholders are, such as exchanges, brokers, and dealers. Crucially, this article goes on to discuss the Thai tax implications that these digital assets will now become subject to by virtue of this new legislation.

To read the article, please click here.

DFDL Contacts

Jonathan Blaine

Tax Director, DFDL Thailand

Patipan Kongviriyagit

Senior Tax Manager, DFDL Thailand

Kunal Sachdev

Regional Legal Adviser, DFDL Thailand