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Thailand to soon provide guidelines for improved crypto tax – Finance Minister

BANGKOK (Reuters) – Thailand expects to decide on more guidelines soon for a cryptocurrency tax that was introduced in 2018, in an effort to make it fairer and more simple, the finance minister said on Wednesday, following a surge in digital asset trading.

The government has supported utilising digital assets to help build the economy without affecting the country’s financial stability, Finance Minister Arkhom Termpittayapaisith told a business seminar.

On Tuesday, Thailand said it would not allow use of digital assets https://www.reuters.com/article/idUSL4N2U52CL as a means of payment due to risks.

Cryptocurrencies have gained momentum in Thailand, which saw as much as 251 billion baht ($7.62 billion) in digital asset trading transactions in November, data from the Securities and Exchange Commission showed.

($1 = 32.93 baht)

(The story has been refiled to fix headline typo in “FinMin”)

(Reporting by Orathai Sriring, Kitiphong Thaichareon and Satawasin Staporncharnchai; Editing by Martin Petty)

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