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
Dubai, UAE, 30th August, 2026: The President of Paraguay, H.E. Santiago Peña, joined FIA President…
During their meeting, the two Presidents discussed the future of mobility and motorsport in Argentina…
Founder of UAOA campaign says Monza shows all that is best about Formula One and…
Dubai, UAE, 10th September, 2026: The pace of new and renewed rental contracts recorded in…
FIA President Mohammed Ben Sulayem says the calendar combines tradition, innovation, and fan engagement while…
Rally Saudi Arabia will not form part of the 2026 FIA World Rally Championship due…