Thailand’s ruling party MP demands that the Excise Department should conduct thorough research into the cryptocurrency market before imposing any taxes. She believes that taxation can discourage investors’ participation.
A virtual meeting of Thailand’s Committee on Monetary Affairs, Finance, Financial Institutions, and Financial Markets was held to address various issues of crypto taxes.
Watanya Wongopasi, a member of the ruling party, summarized the debate on her Facebook page, urging the Excise Department to conduct due diligence before imposing any tax on the crypto trading industry.
Paiboon Nalinthrangkurn, chairman of the Federation of Thai Capital Market Organizations, said during the conference that a tax on stock and digital asset trading might reduce market liquidity by 40%. He also warned that high taxes would discourage foreign and small investors from participating in the market.
Do you also believe that taxation can lead to change in participation of crypto investors? Comment below.
