Thailand plans to draft a law to regulate cryptocurrencies

BANGKOK: Thailand's cabinet has agreed in principle that a law should be drafted for regulating digital assets, including cryptocurrencies and initial coin offerings, a government official said Tuesday.

It has instructed the Office of the Council of State to look into the matter and submit a draft to the cabinet next week, Nathporn Chatusripitak, a spokesman for Deputy Prime Minister Somkid Jatusripitak, told reporters.

Last month, the central bank said it had asked financial institutions not to get involved in cryptocurrency transactions.