Thailand’s Security and Exchange Commission said that it will ban the use of crypto as a means of payment from April 1, citing money laundering concerns and lack of central bank intervention. By thesamreynolds
Thailand’s Security and Exchange Commission said on Wednesday that it will ban the use of crypto as a means of payment from April 1.money laundering concerns and the inability of the central bank to step in and provide assistance as the reason behind the ban.
The Thai SEC stressed that this is not a ban on crypto trading and digital assets, which has become more popular among the locals in the last two years, just a ban on the use of crypto for payments.In the latest announcement, the Thai SEC said that digital assets do not provide improved efficiency to the payments market because of their volatility and high transaction fees.
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