Thailand announces cryptocurrency regulation as means of payment

Thailand has announced that the country will now be regulating cryptocurrency as a means of payment for goods and services. The announcement came from the Bank of Thailand, the Thai Securities and Exchange Commission, and the Ministry of Finance.

After reviewing the benefits and risks of crypto assets, Thailand’s regulatory bodies concluded that they “deem it necessary to regulate the usage of digital assets as a means of payment for goods and services, to avert potential impacts on the country’s financial stability and economic system.”