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Thailand Announces “Medium Of Payment” Ban For Bitcoin And Crypto

  • In accordance with the central Bank of Thailand, the Securities and Exchange Commission introduced a ban stopping enterprise operators from accepting cryptocurrencies as a “Means of Payment” for their services or products.
  • The ban is not going to stop investing or buying and selling in cryptocurrencies, and may services or products used for investing be “misused” for cost providers, operators are anticipated to inflict penalties.
  • A 3% funding cap could be levied towards industrial banks and fintech firms wanting to put money into digital belongings, in a proposal from the Bank of Thailand.

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