Thailand Regulates Initial Coin Offerings and Digital Asset Businesses

The Royal Decree on the Digital Asset Businesses B.E. 2561 (2018) (Royal Decree), which came into force on 14 May 2018, regulates the offering of digital tokens to the public and digital asset business operators. The Securities and Exchange Commission, Thailand (SEC) has also drafted regulations to be issued under the Royal Decree. The regulations are expected to be issued in June 2018. The Royal Decree will not apply to investments in digital assets overseas.

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Australia Extends its AML/CTF Act to Cover Digital Currency Exchange Providers

The Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2017 of Australia came into force on 3 April 2018. That Act brings digital currency exchange (DCE) providers with operations in Australia under the purview of the Australian Transaction Reports and Analysis Centre (AUSTRAC), Australia's financial intelligence unit and anti-money laundering and counter-terrorism financing (AML/CTF) regulator. One of the purposes is to minimise the risk of criminals exploiting DCEs to facilitate money laundering, terrorism financing and cybercrimes. DCE providers are businesses that provide services to convert fiat currency into digital currency and vice versa.

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PDPC Seeks to Streamline the Do Not Call Provisions and Spam Control Act

On 27 April 2018, the Personal Data Protection Commission (PDPC) began a consultation to gather public feedback on its proposal to merge the Do Not Call (DNC) provisions in the Personal Data Protection Act (PDPA) and the Spam Control Act (SCA) into a single legislation governing all unsolicited commercial messages.

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