Thailand is considered to be the first country to enforce clear regulations on digital asset business in Thailand. As a starter, it has continually been controversial. At the same time, it makes the market associated with digital assets more attractive. Attract more investors to come into this market as well. but if you look at it in another way Decentralized transaction business Is Decentralized Finance (DeFi) regulated appropriate?
Ms. Francesca Russo, founder of Crypto Meetup Thailand, organized Crypto, NFT & Beers for the 6th time on the topic “What do International Blockchain Leaders Think About Thailand’s Regulations?” or “Perspectives of Leading Blockchain Companies. abroad on the digital asset law in Thailand” through the perspective of foreign gurus who do business in Thailand, including Toby Gilbert, CEO Coinweb.io, Jonathan Phan, Head of OKX Chain Ecosystem SEA, Dr. Thantee Sukchotirat Director of the Digital Center Thai Build Thai Party and Mr. Sanjay Sanchai Popli, Chief Executive Officer And the co-founder of Cryptomind Advisory Co., Ltd. shared their opinions as follows:
The Royal Decree on Digital Asset Business (“Act on Digital Assets”) has been in effect since 2018. There are many operators applying for licenses. in order to be able to confirm that they are real have credibility from the government Thailand is the first country that can apply for a business license. Later, the crypto market is evolving all the time The law began to change. To be in line with the ever-evolving digital asset business sector In addition, new players coming in constantly. for the safety of investors Therefore, it is difficult for any organization to obtain a digital asset business license.
The regulator wants to protect investors is a good thing. but as long as too much It will become a blocking opportunity. From the operator’s point of view, Thai law should be based on the basis of “Innovation Sandbox”, adapting the concept from “Forbidden” to “Give it first” with conditions to limit damage but not limit the opportunity, for example, do not invest more than how many users on each platform does not exceed. which, when tested, must accept the test results. However, by increasing or decreasing the rules, the Regulator should carefully assess the risks.
However, it is very difficult to control all platforms. because everything is decentralized Decentralized Finance (DeFi) with money circulating in and out all the time, both regulators And entrepreneurs should have to adjust to be balanced. Currently, Thailand is now considered a suitable market for foreigners to invest. It is a friendly region with a good community.
Ms Francesca Russo added at the end that Regardless of the digital asset law Will it be opportunity or control? most importantly Education and understanding of investment no matter what type when we have enough understanding Will be able to limit the risk frame. Crypto Meetup Thailand and Bitcoin Addict Thailand are communities that are ready to educate. Understanding the Thai digital asset industry through activities held on a monthly basis Gathering people with the same interests, sharing knowledge, sharing experiences Enhance your investor’s defenses at no cost.
