Thailand Targets New Crypto Taxes While Others Move to Ease Burdens

An increasing number of countries are looking at the cryptocurrency space, with three national governments launching efforts to regulate and examine projects in the last two weeks.

Even still, it may be some time before those rules get clarified - at least until next tax season.

Thailand is on the cusp of implementing a 7% value-added tax and a 15% capital gains tax on cryptocurrency transactions - a move that is coupled with new regulations on exchanges that handle the trade of such assets.

Last week, Thailand's Ministry of Finance noted it was moving ahead with the bill despite a request from the Thai Blockchain Association to relieve some of the tax burdens that will be placed on the community.

Officials have announced that they would allow 10 cryptocurrency startups to launch operations in a special economic zone that offers lower tax tiers.

The startups will include miners, ICO platforms, and exchanges.

In a less binding move, the Abu Dhabi Global Market's Financial Services Regulatory Authority released their proposed rules on cryptocurrency trading.

Past tax considerations, state regulators in the U.S. continue to crack down on what they allege are fraudulent schemes targeting would-be investors.

The regulator alleged that PowerMining Pool violated the state's Securities Act and using dangerous sales tactics when it was allegedly selling shares in bitcoin to help it mine one of several cryptocurrencies.

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