Thailand will regulate cryptocurrencies from 2022

Many countries are losing millions of dollars in revenue due to the lack of a clear cryptocurrency regulation scheme. A very small number of states in the world have a progressive system of legislation. Thailand intends to join them in the near future.

From 2022, the country plans to promulgate and start implementing clear and comprehensive legislation on the regulation of cryptocurrency assets. The new regulatory policy will be implemented in January of the new year. This will reduce the risks for investors and the financial system of the state.

To avoid confusion, the Thai authorities will release a comprehensive document on the regulation of the cryptocurrency. It will be named "Financial Landscape" and will be published by the country's Central Bank in collaboration with the Ministry of Finance and specialists from other departments.

It will discuss how investors can safely and profitably interact with bitcoins and other cryptocurrencies. What rules must be followed in order to protect against high volatility and other risks of such investments.

Despite strict regulation, cryptocurrency trading is very popular in Thailand. Therefore, many prominent figures in the cryptosphere are calling on the authorities to allow the use of cryptocurrencies as a means of payment in order to increase Thailand's gross domestic product by 6 times.

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