Cryptocurrency Analysis and News Portal
Bank of Thailand’s officials say that using cryptocurrency as a means of payment is not illegal. However, they added that users “must be able to accept the risks,” including price fluctuation. Using Crypto to Pay for Goods and Services Is Not Illegal in Thailand Sakkapop Panyanukul, senior director at the Bank of
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Thailand is laying the groundwork to become a “crypto-positive society” with the aim to attract crypto holders and boost its tourism industry. The country hopes to gain back some of the $80 billion in lost tourism revenue due to the Covid-19 pandemic and subsequent shutdown. Thailand Plans to Attract Crypto Holders The
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A Thai department store chain is trialing its own cryptocurrency for use by employees with a view to offering it to customers in the future.Central Retail Corp., Thailand’s biggest shopping center developer, is distributing its blockchain-based “C-Coin” to 80,000 employees on a merit basis to use as a substitute for
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In search of ways to heal its travel industry, hurt by the pandemic, Thailand is now recognizing an opportunity to tap into a growing market of cryptocurrency holders. Fostering a “cryptourism atmosphere” is what the country’s tourism agency intends to do, including by minting a new token and facilitating bitcoin
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The Bank of Thailand (BOT) has revealed that it plans to develop and test its retail CBDC in the second quarter of 2022. This development was revealed by Vachira Arromdee, the assistant governor of BOT’s Financial Markets Operation Group. She added that the initial pilot tests would be conducted within a
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Thailand’s central bank yesterday published guidelines to regulate and promote the use of blockchain technology in the financial sector. Fast facts Released by Siritida Panomwon Na Ayudhya, assistant governor of the payment systems policy and financial technology group at the Bank of Thailand, the guidelines provides principles for blockchain technology adoption by
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The first half of this year saw massive rallies in crypto, and big regulatory moves in response. Key Points: Biden Administration to require banks/exchanges/blockchain/crypto/defi companies to report Crypto transactions over $10,000 to the IRS. Thailand SEC Cracks Down: Effective June 11, 2021, Meme Tokens (Such as Doge), Fan Tokens, NFTs and Exchange Tokens
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The Bank of Thailand has a harsh stance against the use of stablecoins in the country, and in March, the monetary authority issued a stern warning that it will begin penalizing the usage of any Thai Baht-backed stablecoins.Thailand’s apex monetary institution, the Bank of Thailand (BoT) is seeking a public
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Crypto exchange Upbit is entering the Thai market at a fortuitous time when the kingdom’s most popular exchange, Bitkub, remains suspended by government regulators.According to reports in local media, a joint-venture crypto exchange between Upbit APAC and a group of Thai billionaires launched operations on Wednesday, Jan. 20. It follows
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Apart from blockchain technology, Thailand has also joined a growing number of countries currently exploring the cryptocurrency space.The Bank of Thailand has successfully launched a government savings bond on the IBM (NYSE: IBM) blockchain. Investors in the country can now buy bonds worth the maximum allowed value from a single
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