Thailand’s SEC bans crypto payments
BoT proposes limits on banks’ digital asset investments
Thailand has banned cryptocurrency payments for goods and services, its Securities and Exchange Commission announced on March 23.
The Bank of Thailand and the SEC held discussions in the lead-up to the decision. The central bank and regulator deemed risks to financial stability, loss of value due to price volatility, data breaches and money laundering too high.
In a statement, the SEC said digital currencies posed risks because of their unregulated nature. It said they could also hinder
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