Thailand's securities regulator declared that beginning April 1, crypto payments for goods and services would be prohibited. According to the country's Securities and Exchange Commission, the prohibition is aimed to prevent financial instability. Another source of concern was the threat of cyber-theft.
The prohibition of bitcoin payments occurs at a time when Thailand's cryptocurrency ownership is at an all-time high. According to the Bangkok Post, about 20% of the population aged 16 to 64 holds cryptocurrencies. Although bitcoin payments will be prohibited, cryptocurrency investments will be permitted.
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