Is Thailand the next Southeast Asian Crypto Giant?

Thailand’s Regulation Crypto Space

Thailand was amongst the first countries to regulate cryptocurrencies at a national level dating back to 2013 when Thailand central bank deemed that cryptocurrencies trading as illegal although that ban has since been removed a year later. Since then Thailand crypto space has grown over the years with transaction volume increased by about 600% from November 2020 to April 2021 and has roughly 10 times the number of active trading accounts as crypto powerhouse the United States.

Source: https://crypto-economy.com/thailand-approves-decrees-for-cryptocurrencies-regulation/

Impact on the Future

Thailand in its regulations has taken a clear approach on what is compliant and non compliant in terms of digital assets. Thailand has currently the second largest economy in Southeast Asia only behind Singapore and with 12% of its GDP being in the tourism sector, there is a clearly a lot of benefits in introducing a pro crypto approach.

Source: https://www.chiangraitimes.com/cryptocurrency/setting-the-record-straight-about-cryptocurrency-trading-in-thailand/

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Nagaya Technologies

NAGAYA (NGY) is a Gold-Backed Cryptocurrency with Subsidiary Projects. We aim to build Trust and Value through LEGALITY and TRANSPARENCY. https://nagaya.co/