Alex Coin 
Thailand rolled back plans to charge 15% capital capital is most commonly defined as the large sum of money you would use to invest. gains gains refer to an increase in value or profit. tax on cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. market an area or arena, online or offline, in which commercial dealings are conducted. operators.
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Los reguladores de Tailandia han decidido echar para atrás planes de cobrar un 15% capital gains tax to cryptocurrency traders. The media Financial Times reported the news on Monday.
According to the report, the Thai tax authority has withdrawn withholding tax plans due to opposition from digital digital technologies are these electronic tools that have the ability to generate, store or even process data. asset operators . It should be noted that Thailand represents one of the largest digital currency currency is a medium of exchange that defines value. markets in Southeast Asia.
Income earned by trading or mining a process where blocks are added to a blockchain, verifying transactions. It is also the process through which new bitcoin or some altcoins are created. cryptocurrencies can be reported as capital gains on income taxes, tax officials said Monday, according to a report by the aforementioned media . The new rules would allow traders to offset their losses against profits made in the same year.
Thailand will not charge 15% tax to crypto traders
As reported by DiarioBitcoin In Thailand, taxpayers profiting from cryptocurrencies would be subject to a 15% capital gains tax this year 2022, according to reports published in early January that picked up a new fiscal.
At the time, an official from the country’s Ministry of Finance advanced the information. The source added that Thailand’s Department of Revenue also had plans to strengthen oversight of cryptocurrency trading following significant market growth, both in terms of user size and volume, during 2021.
However, stakeholders in the cryptocurrency industry issued warnings that excessive taxes could kill the sector’s potential growth.
Financial Times cited the new tax regulations, which are set out in a handbook published by the Thai Department of Finance and no longer include a 15% tax. According to the report, the new regulation responds to the demands of industry members.
The change change — a concept relevant to cryptocurrencies that use the UTXO model — is the number of coins sent back to a user after they use their unspent outputs to initiate a transaction. in tax policies come at a time when Thai regulators are paying increased attention to the digital asset sphere. Thailand’s financial authorities last week announced plans to regulate the use of cryptocurrencies as payment methods. The Bank of Thailand, the Ministry of Finance and the Securities and Exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. Commission said they will issue guidelines for certain digital assets that support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. the financial system without posing any systemic risk.
Meanwhile, other countries in the region are also pushing similar efforts. Indonesia recently banned financial institutions from facilitating or marketing cryptoasset a cryptoasset is any digital asset that uses cryptographic technologies to maintain its operation as a currency or decentralized application. trading; and Singapore ordered cryptocurrency companies to stop marketing or advertising their offerings to retail investors, calling digital assets a “ highly risky “.
- Thailand encourages crypto-tourism and might even have its own token a digital unit designed with utility in mind, providing access and use of a larger crypto economic system. and Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. card for it
- Thailand regulators ban trading of NFT non-fungible tokens (NFTs) are cryptocurrencies that do not possess the property of fungibility. and meme tokens, including Dogecoin
- Thai Securities Commission warns DeFi a movement encouraging alternatives to traditional, centralized forms of financial services. could be subject to regulation
Sources: Financial Times , CoinDesk
Article versioned by Hannah Estefania Perez / DiarioBitcoin
Image from Unsplash edited in Canva
