Hong Kong to tighten crypto regulation, Thailand to tax crypto overseas: Law Decoded By Cointelegraph
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Hong Kong regulators are looking to tighten the noose around the crypto market after arresting six individuals following allegations of fraud around an unlicensed crypto exchange, JPEX. The government intends to increase its efforts to inform investors and remind them only to utilize platforms granted Securities and Futures Commission licenses.
Meanwhile, Thailand’s Revenue Department plans to impose personal income tax on foreign revenues, including those from crypto trading, of any person residing in Thailand for more than 180 days. Under the previous regulation, only foreign income remitted to Thailand in the year of earning was taxed. The new rule closes this loophole and obligates an individual to declare any income earned overseas, even if it wasn’t used in the local economy.
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Hong Kong regulators are looking to tighten the noose around the crypto market after arresting six individuals following allegations of fraud around an unlicensed crypto exchange, JPEX. The government intends to increase its efforts to inform investors and remind them only to utilize platforms granted Securities and Futures Commission licenses.
Meanwhile, Thailand’s Revenue Department plans to impose personal income tax on foreign revenues, including those from crypto trading, of any person residing in Thailand for more than 180 days. Under the previous regulation, only foreign income remitted to Thailand in the year of earning was taxed. The new rule closes this loophole and obligates an individual to declare any income earned overseas, even if it wasn’t used in the local economy.
The House of Lords approves the bill to seize stolen crypto in the U.K.
Sam Bankman-Fried’s parents officially enter the FTX court saga
The House Committee approves the U.S. Anti-CBDC bill
Continue Reading on Coin Telegraph
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