Thailand has announced that it will ban the use of cryptocurrencies as a means of payment. The new rules will take effect from April 1. Businesses in the country have been given until the end of the month to adapt.
The good news however is that the trade in cryptocurrencies continues.
Companies, including cryptocurrency exchanges, are banned from providing similar payment methods. They’re also forbidden from engaging in activities that support the use of any digital assets.
Digital-asset service businesses must stop promoting or creating a system to promote payment using digital wallets under the new regulations.
Customers must be warned about using digital assets for transactions, and if they are found to be breaking the regulations, their accounts could be terminated.
