Bitcoin Forum

Just read this news that Thailand's Ministry of Finance has granted licenses to 4 crypto exchanges:
http://www.nationmultimedia.com/detail/Corporate/30361871

Seems like growth will be strong in Thailand after this.

Thailand is a liberal country with a thriving industry in which people will want to pay for certain services without a credit card. Crypto will thrive there and it's exchanges

Good news even though there are 2 applicants being rejected but still a nice thing of adoption to be seen this 1st quarter of this year.

Its more appropriate if this would be moved into proper board https://bitcointalk.org/index.php?board=77.0.

Now people will say like a parrot that Thailand is a crypto friendly country. I wouldn't say the growth will be strong when half of the applications are rejected. Just another country happy to collect the taxes through a new industry. Was the adoption strong when Malta welcomed Binance or another exchange?

Well, it can't be bad news, the kingdom knows it's better off collecting revenue than banning something unbannable. Would say it's a bit surprising that these exchanges went ahead with their applications when the tax rates for crypto businesses were hiked up last year (or rather, they weren't going to get the same tax breaks as normal businesses when starting out). I know they would probably have been counting on Bitcoin popularity to make up for that, but in this sentiment be amazed if people went for exchanges rather than cheaper p2p.

It's like a cat and mouse game. Eventually governments will try to meet the average user in the middle, all to make local transactions less appealing, and thus not miss out on tax income they otherwise wouldn't be getting. It's amazing that crypto offers people this much power, because for the first time it's up to the government to make a 'friendly' move towards its people.

If you keep thinking that people will blindly follow everything you as government come up with, you are wrong. I would like this to be turned into some sort of a revolution at one point, whenever Bitcoin is ready to handle mass adoption. People gave governments the power they have, and now they have the tool they need to lessen that power, so use it.

this is a good step being taken by the thailand government. I do not know how many people buy cryptos in thailand, so I can not say if the price of bitcoin will increase with these measures, but it is still a great mirage to legalize bitcoin in many countries. The years go by and we do not see good results on legalization of bitcoin


Well, as long as at least they're an honest government and collect taxes for the country to function well, I think it's a good thing.


I would like to know what are the criteria used for approval and rejection

At least the government of Thailand see's the potential of getting huge taxes out of crypto and who knows, the kingdom will develop as another crypto hub in Asia. It's a democratic country so it's easy from the outside to see them really friendly to their population.


And that tool would be crypto, as it gave freedom to even a ordinary citizens like the majority of us. Just imagine what mass adoption would be in the future though, exciting times ahead for all of us in the next 10 years.

This is a great news. Atleast the government of thailand gave permission to run crypto exchanges. In my country
government is not allowing to trade or run crypto exchange. Gradually thailand government will
welcome all crypto based industries making it a crypto hub of Asia and i am sure about it. 

I'm not sure if the term crypto hub holds any sort of importance. If we have to believe news outlets, every country with a relatively open mind is marked as crypto hub. Japan has an advantage for sure, and they seem to be working towards a self regulatory body system within crypto, which is great for Japan, but no one outside Japan cares about it.

It's not that Japan as 'crypto hub' has done much to boost further growth. If we look at their volumes, they are pretty insignificant, and the largest exchange by volume Binance left Japan (motives for that move aside) which means there is even less liquidity over there.

The US is the only country investors (regardless of where they are) focus on. If we talk about crypto hubs, then the US is definitely it.

I strongly believe that this is going to be transmitted into a great price upwards movement in Thailand in some days to come.  It seems Thailand is going to become one of the countries that are Cryptocoins friendly in some days to come.