Cryptocurrencies
Thailand Bans Use of Cryptocurrencies as a Method of Payment
- Regulation won’t affect trading, investment activities: SEC
- Tokens may pose a risk to financial system, regulator says
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Thailand will bar the use of cryptocurrencies as a means of payments for goods and services, saying the wider use of digital assets threatens the nation’s financial system and economy.
Business operators -- including crypto exchanges -- must not provide such payment services, and are barred from acting in a manner that promotes the use of digital assets to pay for goods or services, the Securities and Exchange Commission said in a statement on Wednesday. However, the new regulation won’t affect trading or investments in digital assets, the agency said.