Thai regulators say they “deem it necessary to regulate the usage of digital assets as a means of payment for goods and services.” bitcoin crypto cryptocurrency
Thailand has announced that cryptocurrency will be regulated as a means of payment for goods and services “to avert potential impacts on the country’s financial stability and economic system.” The announcement was issued by the Bank of Thailand, the Thai Securities and Exchange Commission, and the Ministry of Finance.
Citing that crypto business operators have been offering services related to the use of cryptocurrencies as a means of payment, including setting up crypto settlement systems, the regulators conceded: The authorities then outlined various crypto-related risks to consumers and businesses, such as “price volatility, cybertheft, personal data leakage, or money laundering, etc.”