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Thai Central Bank to Draw ‘Red-Lines’ on Cryptos as Frenzy Grows

  • BOT plans consultation paper in January for digital assets
  • Sethaput concerned about volatility in cryptocurrencies
Sethaput Suthiwart-Narueput, governor of the Bank of Thailand.

Sethaput Suthiwart-Narueput, governor of the Bank of Thailand.

Photographer: Nicolas Axelrod/Bloomberg
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Thailand plans to unveil detailed rules for digital assets to minimize risks to the financial system and provide greater investor protection as more people are drawn to cryptocurrencies, according to the central bank.

The Bank of Thailand will release a consultation paper on “Financial Landscape” in January that will seek a consensus around the red lines for those operating in the fields of digital currencies, green finance and related areas, Governor Sethaput Suthiwartnarueput said in an interview Monday. The rules will seek to promote innovation in technology, financial inclusion and manage systemic risks, he said.