Thailand

Thailand’s Police Suspects Actor Involved in Kidnapping and $740K Bitcoin Ransom

Posted on by Rehan Yousaf
Thailand’s Police Suspects Actor Involved in Kidnapping and $740K Bitcoin Ransom

A famous Thai actor (currently still unnamed), who was arrested for potentially kidnapping a businessman for a Bitcoin ransom, will be brought in for questioning by the authorities. After the 33-year-old businessman, Mark Cheng, was successfully able to escape from his abductors he immediately reported the event to local law enforcement agencies. According to the filed report, Cheng was asked to pay the approximately $740K ransom in Bitcoin to the kidnappers, among which was also…

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Thailand’s Police Arrested 24 Chinese Citizens Over Bitcoin Call Center Scam

Posted on by Rehan Yousaf
Thailand’s Police Arrested 24 Chinese Citizens Over Bitcoin Call Center Scam

According to local news outlets in Thailand, 24 Chinese have been arrested in the country under the accusation of running a crypto investment scam. The authorities conducted the raid in a call center where the Chinese nationals were allegedly conducting a Bitcoin(BTC)trade con scheme. One of the news outlets who reported the events of the arrest, Chiang Rai Times, further detailed that the alleged scam had been operational since March of this year. Currently, the…

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Thailand’s SEC Examines If Regulation Impedes Crypto Businesses

Posted on by Rehan Yousaf
Thailand’s SEC Examines If Regulation Impedes Crypto Businesses

The regulators at Thailand’s Securities and Exchange Commission (SEC) are exploring possible obstacles for digital asset businesses in a prior crypto royal decree. According to Secretary General of the Thai SEC, Ruenvadee Suwanmongkol, the regulators must be flexible for rules and regulations to be applicable in line with the digital market environment. The amendments are expected to take place by next year as the SEC aims to cater the growth of virtual assets and protect…

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Suspected Swedish Crypto Scammer Handed Over to US Authorities from Thailand

Posted on by Rehan Yousaf
Suspected Swedish Crypto Scammer Handed Over to US Authorities from Thailand

A Sweden citizen has been extradited to the United Stated from Thailand to trial for charges of securities fraud, money laundering and wire fraud that involved digital currencies such as Bitcoin(BTC)trade. Brian A. Benczkowski, assistant attorney general of Criminal Divisions of Justice Department in United States, David L. Anderson, attorney in California based in northern district and Kelly R. Jackson, Special Agent in the Criminal investigation sector of the IRS announced this in a press…

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One of Thailand’s Popular Crypto Exchanges Suddenly Ceases All Operations

Posted on by Ravi Rd
One of Thailand’s Popular Crypto Exchanges Suddenly Ceases All Operations

Bitcoin Co. Ltd. (BX.in.th), one of the largest crypto exchange and trading services provider in Thailand recently announced that it will discontinue its trading, exchange and wallet services from September 30th, 2019. The crypto exchange informed the users to withdraw their funds before November 1st, 2019. The latest notification of one of Thailand’s largest and most popular cryptocurrency exchanges, is shutting down its services later this month. The reasons for the unexpected and sudden shut…

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Thailand’s Securities Exchange Act Amended: Bonds and Stocks to be Issued on Blockchain

Posted on by Julie Williams
Thailand’s Securities Exchange Act Amended: Bonds and Stocks to be Issued on Blockchain

Blockchain technology has been around for over 10 years now, and in all these years, it has catered exclusively to the crypto verse and a number of blockchain-based innovative ideas. However, it seems the technology has room for other markets including the traditional bond and stock market. This was made known in a local report in Thailand which stated that the National Legislative Assembly (NLA) has given the green light for an amendment of the…

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Thailand to Become the First Country to Use Blockchain for Tax Probes

Posted on by Rehan Yousaf
Thailand to Become the First Country to Use Blockchain for Tax Probes

Blockchain technology has seen an increase in its usage across many industries in 2018. Now that the hype of cryptocurrencies has died down, the real power of the crypto world is finally getting some attention. Pharma industry, supply chain programs, freight tracking systems, and cloud computing are just a small subset of the industries that have already initiated plans to incorporate blockchain technology into their systems. However, not many governments had shown the initiative to…

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