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Especially for Libra, there are several businesses that might be

regulated under relevant legislation, such as authorized resellers, that will
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interact with the reserve and Association. However, the regulatory clarity
may need to be further addressed by the authorities including the Ministry

of Finance, Bank of Thailand and the Securities and Exchange Commission.

4.2.2.1 The Business Registration Act B.E. 2499 (1956)

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Under the Business Registration Act B.E. 2499 and the Regulation
of the Ministry of Commerce on persons who have the duties for commercial

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registration (No.11), B.E. 2553, certain types of business operators must
apply for e-commerce registration. According to Section 5 (3) of the Regulation,

virtual currency businesses are offering their services online; accordingly, the

businesses fall within the scope of the Business Registration Act B.E. 2499
and the above-mentioned regulation of the Ministry of Commerce. In addition,

if the businesses offer services as an e-marketplace, they are also subject to

Section 5 (6). Hence, under the laws, virtual currency businesses may need
to apply for e-commerce registration.

In the case of Libra coin, as specified in the White Paper, the so-called

authorized reseller that must interact with the reserve and the Association will

definitely offer its services online. Accordingly, the authorized reseller may

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Supra, note 10. p. 10.
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The Business Registration Act B.E. 2499 (1956), <https://www.dbd.go.th/dbdweb_en/
download/pdf_law/BUSINESS_REGISTRATION_ACTBE2499/act_bussi_be2499.pdf> accessed 1
December, 2019.
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The Notification of the Ministry of Commerce Re: on persons who have the duties for
commercial registration (No.11), B.E. 2553, <https://www.dbd.go.th/download/PDF_law/
registe_2553c11.pdf> accessed 1 December, 2019.

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