Thailand bans crypto payments for goods and services
cnbctv18.comThailand's securities regulator on Wednesday announced it was barring the use of cryptocurrencies for payment of goods and services. The ruling effective April 1 does not ban investment in crypto-currencies, which has become increasingly popular in the past year after being promoted by local exchanges.The Securities and Exchange Commission said it was taking action in order to protect the stability of the country's financial and monetary systems from threats including money laundering and other cyber-crimes.The regulation also specifically bans the promotion of crypto-currencies for payment along with the distribution of software and devices for that purpose.Also Read:How do crypto cross-border payments work?It also said that operators of digital asset businesses must warn their customers of the ban and could suspend their accounts if they violated the regulation.
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