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Thailand's Ban + South Korea's Tax Exemption + CME Swallows 96%! Three Major Life-and-Death Situations in the Cryptocurrency World Change Dramatically in Three Days!
In the ever-changing global cryptocurrency market, Thailand, South Korea, and the Chicago Mercantile Exchange (CME) in the United States have recently introduced significant measures, like three giant stones thrown into a lake, stirring up layers of waves and profoundly impacting the landscape of the cryptocurrency field.
Thailand: A comprehensive ban on exchanges, paving the way for local digital currencies. The Thai government recently announced that starting from June 28, it will implement a comprehensive ban on five cryptocurrency exchanges, including Bybit and OKX. This ban stems from the fact that these exchanges were operating without a license in Thailand, severely violating local financial regulatory laws. This news hit like a heavy hammer, causing panic among users trading on these platforms. For users, the immediate priority is to transfer their assets immediately. The Thai government has made it clear that if assets are not transferred out before June 28, not only may funds be unrecoverable, but users may also face legal liabilities. This is not alarmism; there have been similar cases in the past where users suffered heavy losses due to failure to respond timely to regulatory policies, resulting in their assets being frozen. Thailand's sudden adoption of such a tough measure actually has deep reasons behind it. On one hand, Thailand is committed to eliminating money laundering risks. With the development of the cryptocurrency market, some criminals have exploited its anonymity and convenience to engage in money laundering and other illegal activities, posing a huge threat to Thailand's financial security. Thailand is using the newly introduced (Cybercrime Law) as a powerful weapon to strictly regulate the cryptocurrency trading market, aiming to curb money laundering from the source. On the other hand, Thailand plans to launch a national version of digital asset G-Token in July. In order to create a favorable environment for the smooth listing of G-Token, Thailand needs to clean up the “wild” exchanges in the market and guide users towards legitimate licensed platforms. In this way, Thailand can better regulate the digital currency market, ensure the stable operation of the national digital currency, and enhance the stability of the financial system.
Thailand: A comprehensive ban on exchanges, paving the way for local digital currencies. The Thai government recently announced that starting from June 28, it will implement a comprehensive ban on five cryptocurrency exchanges, including Bybit and OKX. This ban stems from the fact that these exchanges were operating without a license in Thailand, severely violating local financial regulatory laws. This news hit like a heavy hammer, causing panic among users trading on these platforms. For users, the immediate priority is to transfer their assets immediately. The Thai government has made it clear that if assets are not transferred out before June 28, not only may funds be unrecoverable, but users may also face legal liabilities. This is not alarmism; there have been similar cases in the past where users suffered heavy losses due to failure to respond timely to regulatory policies, resulting in their assets being frozen. Thailand's sudden adoption of such a tough measure actually has deep reasons behind it. On one hand, Thailand is committed to eliminating money laundering risks. With the development of the cryptocurrency market, some criminals have exploited its anonymity and convenience to engage in money laundering and other illegal activities, posing a huge threat to Thailand's financial security. Thailand is using the newly introduced (Cybercrime Law) as a powerful weapon to strictly regulate the cryptocurrency trading market, aiming to curb money laundering from the source. On the other hand, Thailand plans to launch a national version of digital asset G-Token in July. In order to create a favorable environment for the smooth listing of G-Token, Thailand needs to clean up the “wild” exchanges in the market and guide users towards legitimate licensed platforms. In this way, Thailand can better regulate the digital currency market, ensure the stable operation of the national digital currency, and enhance the stability of the financial system.
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