some countries have not yet had any clear rules and regulations for cryptocurrencies so far even though they have been growing in their country. so some places such as Thailand need to act fast about it and start with more regulations so that they can keep the market and flow of money under control in order to prevent fraud and also lots of illegal activities such as money laundering for example.
Building framework is one thing that will have to come with regulations and so far, even Japan as much as they seem they are getting it right in the Asian continent are still learning and fine tuning it. Thai Minister obviously made the right call, because whether we like it or not, if there is a chance for this space to thrive more than how it is now in the long run, we need to have some laws and regulations in place. Where there is no law, certainly there is no sin, and that is why a lot of appalling sinful nature keeps brewing in this space over time.