By PTI
BANGKOK: Thailand’s securities regulator on Wednesday announced it was barring the use of crypto-currencies for payment of goods and services.
The ruling effective from April 1 does not ban investment in crypto-currencies, which has become increasingly popular in the past year after being promoted by local exchanges.
The Securities and Exchange Commission said it was taking action in order to protect the stability of the country’s financial and monetary systems from threats including money laundering and other cyber-crimes.
The regulation also specifically bans the promotion of crypto-currencies for payment along with the distribution of software and devices for that purpose.
It also said that operators of digital asset businesses must warn their customers of the ban and could suspend their accounts if they violated the regulation.
Businesses have time until the end of April to comply with the ban.
