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Thailand: read now apparently don’t ban of crypto trade for banks


in Thailand, it comes in the wake of a regulatory step to a ban on trade with Kryptowährungen. So it should be in future banks and other financial institutions prohibited to trade in coins or tokens. This emerges from a circular of the Central Bank.

As the Thai Central Bank Governor, Veerathai Santiprabhob, announced on Monday was trading for institutional investors in Kryptowährungen should be prohibited. According to media reports, the banks and credit institutions should in future invest in Kryptowährungen, nor be involved in trade with them.

It is now no longer allowed to provide commercial space or platforms for crypto trade banks. Also the exchange of Kryptowährungen of customers in Fiat currencies banks is no longer permitted. The use of credit cards to purchase Kryptowährungen is apparently also banned.

Justification the high risk also called pages of the Central Bank – as so often at Government-initiated bans by Kryptowährungen – go from Kryptowährungen. In addition to the risk of fraud terrorist activities is called at this point whatever money laundering, black-market trade and financing.

Already last week we reported on the Thai Government’s plans to consider a stricter Regulation by Kryptowährungen . So, the Ministry of Finance put together a working group of employees of the Bank of Thailand, the Finance Ministry and the Thai securities and Exchange Commission (SEC), to prepare a regulation of trade with Kryptowährungen. The Southeast Asian State is the Blockchain technology, however, favour.

Specifically on Asia focus is when it comes to stricter rules to regulate Kryptowährungen or even bans. It was China, which was big news on ICO ban and closing of crypto exchanges with in the last year as South Korea made this year so far mainly of talk. India shows, however, friendly against Kryptowährungen, and prohibition excludes first.


about Tobias Schmidt

 Tobias Schmidt is Tobias Schmidt since August 2017 as editor in the BTC ECHO working team. His studies in the subject of politics and Economics at the University of Münster signed with a Bachelor’s degree and was also active during his studies at the Department as a student assistant. In addition, he gained professional experience in parliamentary work and in strategic communication, before joining in the journalistic trade. Since 2017 he deals with the Blockchain technology, whereby it focuses in particular on the many different application possibilities in politics, economy and society.

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