Thailand bans cryptocurrency payments for goods and services

Thailand bans cryptocurrency payments for goods and services

BANGKOK (AP) — Thailand’s securities regulator announced Wednesday that it is barring the use of cryptocurrencies for payment of goods and services.

The ruling effective April 1 does not ban investment in cryptocurrencies, 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 cybercrimes.

Well they still allow investing so I guess it could be worse!

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Anyways it makes sense for a country that gains tons of money for their budget through taxes coming from touristic activity.

Pretty much used to this sorta news now but could this be the reason why BTC and some major altcoins appear red today?