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Economy

Thailand's military regime plans to tax cryptocurrencies

Conservative regulatory response creating uncertainty, promoting Singapore's lead in the sector

Thailand's military government is taking steps to bring cryptocurrencies within the tax fold.   © Reuters

BANGKOK -- Thailand's military government wants to regulate the nascent cryptocurrency market, and slap investors dabbling in digital coins with taxes to prevent the expanding sector from being used for money laundering, tax evasion, and other criminal activities.

The move was announced by Finance Minister Apisak Tantivorawong on Mar. 27 after a weekly cabinet meeting.

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