BANGKOK, Mar 13 (NNT) - The Cabinet has given initial approval to a draft law governing digital asset businesses, aiming to protect people from fraud. Additional details of the law are expected to be announced next week. Following the weekly Cabinet meeting, Mr Nattaporn Jatusripitak, Advisor to the Prime Minister’s Office Minister, reported that Cabinet members have resolved to approve in principle the draft emergency decree on the exchange of digital assets.
Details of the draft law are currently being studied and adjusted by the Office of the Council of State, with conclusions likely to be drawn by next week. Auxiliary laws will also be rolled out by the Ministry of Finance and the Securities and Exchange Commission for promulgation alongside the draft emergency decree.
The draft emergency decree on digital asset exchange has been designed to ensure transparency in the business and prevent fraudulent practices among operators. Any profits generated will also be subject to taxes.