On March 13^th, the Thai government announced drafts of two laws regarding digital assets. The Finance Ministry uses “digital assets” as the umbrella terms for digital coins and cryptocurrencies. The first draft plans to regulate digital asset transactions and the second draft plans to place tax levies on digital assets.

The Hague Convention on Child Abduction allows for claims by parents who have had their child abducted.

The Deputy Prime Minister explains that digital assets need to be regulated otherwise they may be used for “money laundering, tax avoidance and crime purposes”. The Central Bank of Thailand had ordered all banks in Thailand from trading or having platforms that invested in cryptocurrency.

The tax levy draft will revise the Revenue Code to include digital assets and allow the tax-collection agency to collect investment gains and benefits from cryptocurrency. A business school professor from Thammasat University comments that taxing digital assets may have the potential for money laundering liability as traders will be allowed to trade overseas and move gains back into Thailand.

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The Thai government revoked the passports of the former education minister Chaturon Chaisaeng, without informing him they were doing so, The Nationhas reported.

Thailand’s Prime Minister explained that Chaturon had been summoned over 10 times to stop publicly criticizing the government and the military junta.

He said:

“If we don’t have any rules, then we won’t be able to move forward. I have nothing to lose, and I’d like everyone to remember what I say, what I do and what the country will gain.”

Chaturon sought an explanation yesterday from the Foreign Ministry’s Consular Department regarding why his three passports, including the diplomatic one, had been revoked with no warning.

“I want a valid explanation,” he said. “I have become a second-class citizen, with my travelling rights taken away. Of course, I’m being prosecuted, but as long as the cases are not yet over, I should not deserve such punishment.”

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Sek Wannamethee, Foreign Ministry spokesman said the travel documents had been revoked due to a request from the Royal Thai Police.

He said Chaturon could not travel as he faces arrest, citing Articles 21 (2) and 23 (2) of the Foreign Ministry’s 2005 regulation on passports.

For the full story, see here and here.

http://www.nationmultimedia.com/politics/Chaturons-passport-fate-will-hit-others-Prayut-war-30268095.html