Thailand begins retail CBDC pilot to assess digital baht feasibility
Bank of Thailand expects the total number of participants to reach around the 10,000 mark while viewing the CBDC project as a “pilot to learn” instead of a pilot launch.
Bank of Thailand expects the total number of participants to reach around the 10,000 mark while viewing the CBDC project as a “pilot to learn” instead of a pilot launch.
Binance undergoes "re-evaluation" of its workforce, cutting down about one-fifth of its total manpower who are either underperforming or might not be "the right cultural fit."
Pheu Thai will give each citizen above 16 years old $300 in digital tokens to spend in their neighborhood to spark economic recovery amid soaring public debt.
The SEC is seeking public comments on its planned removal of the investment limits. A clause in the announcement warned that investors will be exposed to increased risks following the lifting of the investment limits.
The public consultation is expected to run for a month and end on April 7, 2023, and the public can submit their suggestions to the commission via its website or official email address.
Thailand has become a digital asset hub, and in order to promote this growth, the government will waive VAT and corporation taxes for firms issuing investment tokens.
Under the latest regulations, VASPs are mandated to create a digital wallet management system, a framework for securing wallet keys, and develop a contingency plan in case of a system anomaly.
Assistant Gov. Tharith Panpiemras revealed that virtual banks would be regulated in the same manner as traditional financial institutions, including additional safeguards for investors’ protection.
Thailand's Securities and Exchange Commission has opened a new investigation into the activities of Zipmex to clarify how its ZipUp/ZipUp+ offerings were administered.
As global digital asset exchanges fall like dominoes, Thailand is looking to fortify its oversight powers and impose more stringent protocols in the market to safeguard investors.
Eddie Yue of the HKMA says reducing risks associated with digital assets can be achieved by regulating off-chain activities, while BOK's Rhee is skeptical of whether these assets truly have benefits.
The deal will see V Ventures own 90% of the embattled Zipmex exchange as part of attempts to raise liquidity.