Breaking: Don't worry ---- No Crypto ban in Thailand! ----
I hope the markets keep cool and there will be no wrong interpretation like in India
No Thai clampdown
Contrary to reports in the mainstream media Thailand has not cracked down on crypto but has taken a stance similar to South Korea and intends to regulate it to prevent use for criminal activities. The Bank of Thailand (BoT) does not want other banks or financial institutions getting involved until a regulatory framework has been put in place.
In line with action taken in the US and UK it has also restricted the use of credit cards to buy cryptocurrencies for fear of escalating debts during market corrections. Thailand only has one crypto exchange, BX Thailand, and they reassured customers by stating;
They [BoT] actually are banning banks and money institutions from investing in cryptocurrency but we are an exchange and are not affectedsource
https://www.bangkokpost.com/business/news/1411254/central-bank-bans-banks-from-cryptocurrencies
Markets, keep cool !
Best regards
Tom
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