Representations of virtual currency Bitcoin are seen in this picture illustration taken taken March 13, 2020. REUTERS/Dado Ruvic/Illustration
BANGKOK, March 23 (Reuters) – Thailand has issued rules to ban digital assets from being used to pay for goods and services from April 1, the market regulator said on Wednesday.
The move was in line with earlier discussions between the Securities and Exchange Commission (SEC) and the Bank of Thailand (BOT) on a need to regulate such activity by digital asset business operators as it could impact the country’s financial stability and overall economy, the SEC said in a statement.
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.
In January, the regulator in Indonesia also warned financial firms not to offer and facilitate crypto sales, amid a boom in its usage.
This article was originally published by Reuters
In total rental activity, it comprises more than 368,500 leases registered in 2025, accounting for…
Abu Dhabi is reinforcing its position as one of the world's fastest-growing financial centres as…
Doha, Qatar, July 2026 — Doha is reinforcing its position as one of the Middle…
Keturah founder says new climate research demands rethink from region’s developers Dubai, UAE, 2nd July…
ADXinteract reveals sales climb 173% in value to AED 84.49 billion and 103% in volume…
Ras Al Khaimah is rapidly strengthening its position as one of the Middle East’s fastest-growing…