Digital currency News: Thailand Launches New Regulations, Switzerland wants to be a “Crypto Nation,” and the UK wants a Government Blockchain Executive

On Monday, July 16, Thailand’s new regulations on digital tokens became effective.

Previously (on July 4) Deal Street Asia had reported that the nation’s financial regulators had concurred that “all vendors of digital tokens must be firms licensed under Thai law and will be allowed to offer an unrestricted amount of such assets to investors, venture capital firms and private equity companies. “Retail investors can purchase each token for around $9,100.

This move follows a March declaration in which Thailand’s Finance Ministry swore it would inflict a “15% withholding levy on revenues from cryptocurrency trade and digital tokens.”

Swift Switzerland wants to be a “Crypto Nation.”

According to Cryptovest, a digital currency reporter, Switzerland wants to transform into a crypto nation.

Well, how fast? Perhaps it’s no surprise to some as the country is known for its bank secrecy laws. And it seems the nation is drawing nearer to its dreams as reports have leaked that Swiss authorities are putting pressure on banks to be friendlier to upcoming companies that deal with cryptocurrencies.

However, Switzerland’s “stringent anti-money laundering laws and other client managing procedures,” stand as the barrier for those hatchling companies to gain access to traditional banking. And now the Swiss Finance Ministry is pushing the Swiss Bankers Association to eliminate this obstacle so that industry grows.

Meanwhile in the U.K

A member of Parliament, Eddie Hughes is raising a question worth everyone’s attention: “Does the success of blockchain need a government executive whose work focuses on the technology?”

Hughes from the U.K. Conservative party proposed that the government should assign a “public-facing chief blockchain officer to develop strategies for the tech aspect of these public services, which will in the long run cut the government’s annual expenses by 1 %.”

This idea strikes at the perfect moment when over 40% of the 29 startups listed by the U.K Financial Conduct Authority in its fourth sandbox cohort are focusing on improving blockchain technology.

It should also stay clear that in a last year report, the upper chamber of U.K Parliament issued a statement stressing how blockchain could help better government services. Therefore, Hughes is not solo, has the majority behind him.

Author Bio: Payment industry expert Taylor Cole is a passionate merchant account expert who understands the complicated world of accepting credit and debit cards at your business. His understanding of Payzone hidden charges in the industry has helped thousands of business owners save money and time.