Thailand Announces “Medium Of Payment” Ban For Bitcoin And Crypto Today

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  • In accordance with the central Bank of Thailand, the Securities and Exchange Commission announced a ban preventing business operators from accepting cryptocurrencies as a “Means of Payment” for their products or services.
  • The ban will not prevent investing or trading in cryptocurrencies, and should products or services used for investing be “misused” for payment services, operators are expected to inflict consequences.
  • A 3% investment cap would be levied against commercial banks and fintech companies looking to invest in digital assets, in a proposal from the Bank of Thailand.

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