2 years ago
Thailand's fiscal authorities program to modulate the usage of integer assets arsenic a means of outgo for goods and services, the Bank of Thailand, Ministry of Finance, and the Securities and Exchange Commission of Thailand said successful a press release.
Regulators volition see exercising their powerfulness to bounds the usage of crypto for payments, and volition contented caller guidelines for definite integer assets that enactment the fiscal strategy and innovation without posing systemic risk, according to the connection connected Tuesday.
Crypto firms person expanded their concern to connection outgo services utilizing crypto and person solicited payments concern by facilitating the acceptance of crypto, the associated connection said.
These efforts whitethorn widen the usage of crypto arsenic a means of payment, distant from its usage arsenic an investment, which could adversely interaction fiscal stability, user privacy, and cybercrime, according to the statement.
Separately, the Thai SEC is seeking remark connected a consultation paper connected integer assets, until Feb. 8.
The insubstantial proposes to prohibition merchants from advertizing and facilitating integer assets arsenic means of outgo and prohibits exchanges and brokerages from providing systems that assistance merchants person payments successful crypto, specified arsenic QR codes and e-wallets.
Following the consultation, determination would besides beryllium limits connected transferring assets betwixt accounts, for illustration Thai Baht made from selling crypto assets tin lone beryllium transferred to the seller's account.
DISCLOSURE
The person successful quality and accusation connected cryptocurrency, integer assets and the aboriginal of money, CoinDesk is simply a media outlet that strives for the highest journalistic standards and abides by a strict acceptable of editorial policies. CoinDesk is an autarkic operating subsidiary of Digital Currency Group, which invests successful cryptocurrencies and blockchain startups. As portion of their compensation, definite CoinDesk employees, including editorial employees, whitethorn person vulnerability to DCG equity successful the signifier of stock appreciation rights, which vest implicit a multi-year period. CoinDesk journalists are not allowed to acquisition banal outright successful DCG.
Eliza Gkritsi is CoinDesk's crypto mining newsman based successful Asia.
Subscribe to State of Crypto, our play newsletter connected argumentation impact.
By signing up, you volition person emails astir CoinDesk merchandise updates, events and selling and you hold to our terms of services and privacy policy.
English (US) 