Thailand bans cryptocurrencies as a means of payment

23.03.2022 13:43
by Artem Ustinov
1 min read

Thailand bans cryptocurrencies as a means of payment

Payment for goods and services using cryptocurrencies in Thailand will be prohibited from April 1. This was reported by the Securities Commission of Thailand.

The decision was made after discussions between the SEC and the Bank of Thailand. The departments concluded that it is necessary to regulate the crypto industry.

The SEC has confirmed that this is not a complete ban on trading cryptocurrencies. Restrictions apply to making payments for services and goods.

Author

  • Crypto analyst and practitioner trader with the law and managerial education. Active investor and crypto enthusiast. Worked as an analyst and copywriter in a brokerage company. Accompanied by DAO and NFT projects of different levels of complexity.

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