Thailand will ban digital assets from being used in payments for goods and services from April 1, the country’s market regulator said on Wednesday.
The decision is in line with previous discussions between the country’s market regulator (SEC) and Thailand’s central bank on the need to regulate the activity by digital asset business operators.
The assessment is that the use of cryptocurrencies as a means of payment could affect the country’s financial stability and overall economy, the SEC said in a statement.
Operators providing these services must comply with the new rules within 30 days of the effective date, the SEC said.
The Thai BC has said on several occasions that it does not support the use of cryptocurrencies as a form of payment.
In January, the regulator of markets in Indonesia also warned financial companies not to offer and facilitate sales through cryptocurrencies, amid the explosion of its use.
Source: CNN Brasil
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