Thailand to ban use of digital assets as payments from April

Bangkok, March 23 (BNA): Thailand has issued rules banning the use of digital assets to pay for goods and services from April 1, the market regulator said.

The move was in line with previous discussions between the Securities and Exchange Commission (SEC) and the Bank of Thailand (BOT) regarding the need to regulate such activity by digital asset business operators as it could affect the country’s financial stability and the general economy, the Saudi Electricity Company said in a statement. statement, according to Reuters.

It said digital asset business operators providing such services must comply with the new rules within 30 days of the effective date.

The BOT has repeatedly said that it does not support cryptocurrencies as payments. She will hold a briefing on regulatory guidelines for banks’ digital assets business later on Wednesday.

In January, Indonesia’s regulator also warned financial companies against offering and facilitating sales of cryptocurrencies, amid a boom in their use.

HF