Thailand vs. Estonia-Which Is More Crypto-Friendly?

It has not been long since Thailand’s Securities and Exchange Commission, popularly known as SEC, has legalized the trading of seven Cryptocurrencies. These include Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Ripple, Litecoin, and Stellar. The Thailand exchanges are licensed to trade these cryptocurrencies.

So, now is the billion-dollar question, which is the preferred country when it comes to trading electronic currency-Estonia or Thailand. To solve this dilemma, we compare both these nations by rounding up valuable points you must know before making your first investment.

Complex Requirements to Obtain Cryptocurrency License in Thailand

There is a myriad of benefits to getting the license in Thailand. Firstly, you’ll have to make a centralized exchange deposit of 50 million TBH, which is around 1.47 million euros. Whereas in Estonia, the entire process of obtaining the license for setting up an exchange is less complicated, it hardly takes a few days to get government approval.

Do you know the license application fees are 30,000 TBH in Thailand?

On the other hand, the cost of filling the application for getting the crypto exchange is quite nominal. Another problem faced by Crypto investors and exchanges in Thailand is that the token to be sold has to be first approved by the Securities and Exchange Commission (SEC). The taxes imposed on crypto exchanges in Thailand are heavy, especially when it is a developing nation.

So, in a nutshell, it is a no-brainer to suggest that the government policies for cryptocurrencies are favorable in Estonia in comparison to Thailand.