Global Broker Regulation Inquiry App
WikiFX
English
简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Thailand Bans Crypto Payments, Allows Trading
Abstract：Thailands Security and Exchange Commission (SEC) announced on Wednesday its decision to ban cryptocurrencies as means of payment, effective from April 1, 2022. However, Thai people can still invest and trade digital assets.
The new law will come into effect on April 1, 2022.
It is concerned about financial instability because of crypto volatility.
Q4 2021 volumes have gone up or down and how much？
The regulator highlighted several concerns, including the possibility of money laundering . In addition, it said that crypto payments do not provide an improved and efficient payments market due to volatility and high transaction fees.
Further, the announcement stressed the risk on the Thai financial systems from the usage of cryptocurrency as payments and the inability of the Thai central bank to step in and provide assistance in case of any loss of value.
“[Crypto payments] may affect the stability of the financial system and overall economic system, including risks to people and businesses,” the regulator said after a joint study of the industry by the Thai central bank and the securities market regulator.
Cryptos Are Popular
Digital asset investments and trading have become very popular in Thailand over the past few years. Though crypto payments have not become mainstream yet, many businesses have started to accept them.
The latest order came only a couple of months after the Thai authorities announced plans to regulate the crypto payments industry in the country.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Long
Short
Slippage
Leverage
Indicator
Broker
Market depth
Fundamental analysis
Margin
RokingLTD
knowledge
Learn basic forex
Forex trading
Forex margin
Forex Chart
Forex indicator
support and resistance
Forex Broker
Forex strategy
Forex Currency pair
Forex Analysis
Forex news
leverage in forex
forex pips
Basic forex knowledge
forex market
forex beginners
FSCA
Read more
InterTrader Exposed: Traders Report Unfair Account Blocks, Profit Removal & Additional Fee for Withd
Does InterTrader block your forex trading account, giving inexplicable reasons? Does the broker flag you with latency trading and cancel all your profits? Do you have to pay additional fees for withdrawals? Did the UK-based forex broker fail to recognize the deposit you made? Does the customer service fail to address your trading queries? In this InterTrader review article, we have shared such complaints. Read them out.
Original 5h
Grand Capital Doesn’t Feel GRAND for Traders with Withdrawal Denials & Long Processing Times
The trading environment does not seem that rosy for traders at Grand Capital, a Seychelles-based forex broker. Traders’ requests for withdrawals are alleged to be in the review process for months, making them frustrated and helpless. Despite meeting the guidelines, traders find it hard to withdraw funds, as suggested by their complaints online. What’s also troubling traders are long processing times concerning Grand Capital withdrawals. In this Grand Capital review segment, we have shared some complaints for you to look at. Read on!
Original Three days ago
EmiraX Markets Withdrawal Issues Exposed
EmiraX Markets Review reveals unregulated status, fake license claims, and withdrawal issues. Stay safe and avoid this broker.
Original Three days ago
ADSS Review: Traders Say NO to Trading B’coz of Withdrawal Blocks, Account Freeze & Trade Issues
Does ADSS give you plenty of excuses to deny you access to withdrawals? Is your withdrawal request pending for months or years? Do you witness account freezes from the United Arab Emirates-based forex broker? Do you struggle to open and close your forex positions on the ADSS app? Does the customer support service fail to respond to your trading queries? All these issues have become a rage online. In this ADSS Broker review article, we have highlighted actual trader wordings on these issues. Keep reading!
Original Three days ago
WikiFX Broker
Latest News
Mitrade Arabic Platform Targets MENA Gold Trading Boom
WikiFXIsraeli Arrested in Rome Over €50M Forex Scam
WikiFXNew FCA Consumer Alert 2025: Important Warning for All Consumers
WikiFXEmiraX Markets Withdrawal Issues Exposed
WikiFXConsob Targets Political Deepfake “Clone Sites” and Unlicensed Platforms in Latest Enforcement Round
WikiFXWikiEXPO Global Expert Interviews: Gustavo Antonio Montero: ESG in Finance
WikiFXScam Alert: GINKGO-my.com is Draining Millions from Malaysians!
WikiFXPolymarket Onboards First US Users Since 2022 Shutdown: Beta Relaunch Signals Major Comeback
WikiFXUS Seizes US15 Billion in Bitcoin as Prince Group Rejects Crypto Scam Allegations
WikiFXINGOT Brokers Regulation 2025: ASIC vs Offshore License - What Traders Must Know
WikiFXCurrency Calculator
USD
CNY
Current Rate: 0
Amount
USD
Available
CNY
Calculate