Thailand bans use of digital assets as payments

Thailand has issued rules to ban digital assets from being used to pay for goods and services from April 1.

The Securities and Exchange Commission (SEC) and the Bank of Thailand (BOT) had held discussions on a need to regulate such activity by digital asset business operators.

The regulators think digital assets in Thailand’s mainstream commerce could impact the country’s financial stability and overall economy.

Digital asset business operators that provide such services must comply with the new rules within 30 days from the effective date, it said.

The BOT has said repeatedly that it does not support cryptocurrencies as payments. It will hold a briefing on regulatory guidelines for banks’ digital asset business later on Wednesday.


Leave a Reply

Your email address will not be published.