Thailand will ban the use of cryptocurrencies for payments, arguing that the use of digital assets is badly affecting the country’s financial system.
The Thai Securities and Exchange Commission announced on March 23 that businesses, including cryptocurrency exchanges, that it should not receive cryptocurrency payment services and that it will prohibit the use of cryptocurrencies in payments told.
The regulator said in a statement that the restrictions on the use of cryptocurrencies will be effective from April 1, and for companies to comply with the new rules. They will have until the end of April told.
According to some commentators, with the economic situation in the country not good, Thai citizensI can provide better returns with the thought cryptocurrency trading started doing it. Banks in Thailand have previously warned the public about the use of cryptocurrencies because they are volatile and involve too much risk.
Thailand Securities and Exchange Commission, Use of currencies other than Thai baht It will affect the economic activities in the country and in case of any liquidity crisis. out of baht He said he couldn’t get help.
From April 1, digital asset service providers, that cryptocurrencies facilitate payments for goods and services It will not be able to give advertisements stating. Also, customers of companies should warn against the use of cryptocurrencies. Otherwise, they will not be able to advertise again.