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Thai securities regulator to issue cryptocurrency rules in June

Thailand's securities regulator plans to issue regulations on cryptocurrencies and initial coin offerings, or ICOs, by the end of June, Reuters reported May 15, citing Rapee Sucharitakul, secretary general of the Securities and Exchange Commission.

Rapee said the regulator will implement the rules after holding a public hearing, which can take two to three weeks. Offerings of digital tokens will not be allowed until regulators issue the regulations, he added.

Thailand will impose a 15% withholding tax on gains from digital tokens and cryptocurrency trade, Finance Minister Apisak Tantivorawong said in March. There will be a 7% value-added tax as well, but general investors will be exempted from that tax.