Ronin Bridge, the Ethereum sidechain used by popular NFT game Axie Infinity, lost over $600 million in what appears to be one of the largest digital currency heists in the world.
The central bank says it’s fully behind fostering the growth of the digital assets industry, but banks must be cautious in their approach to protect investors.
The Thai SEC said that digital currencies are too volatile and don’t possess the qualities of sound money, but it won’t prohibit investing and trading it.
Thai Finance Ministry announced new tax rules that seek to promote digital currency trading, a month after a public outcry that led to the scraping of 15% capital gains tax.
The Thai taxman was to begin collecting the 15% tax this year, but it will now only impose capital gains from traders even as the government bans Bitcoin payments.
BSV blockchain will be at the center of the first BSV Global Blockchain Convention. The three-day event will be held in Dubai from May 24 to 26 at the Grand Hyatt Hotel.
Bank of Thailand, the Securities and Exchange Commission, and the Finance Ministry issued the joint statement where they said digital currencies aren’t fit to be used as payment methods.
Thai taxman expects to impose a 15% withholding tax on digital currency profits but will hold a public hearing to collect feedback as it seeks to foster growth in the sector.
This week marks the 13th year of the Bitcoin Genesis Block. It first appeared on January 3, 2009, containing the now-famous headline from The Times: “Chancellor on brink of second bailout for banks.”
Mana Jumuang and his co-conspirators, who were allegedly affiliated with OneCoin, claimed to be running stores and selling goods such as cars, houses, and gold on the trading platform, authorities said.
The initial testing of Thailand’s central bank digital currency, initially set for Q2 in 2022, will be pushed to later in the year because stakeholders need time to prepare for it, according to Bank of Thailand.
The Thai government is looking at issuing a digital currency, building a new tourism ecosystem, and developing a wallet to help Thailand’s economy, which has taken a hit during the pandemic.
