News Forum - Cryptocurrency payments banned in Thailand, trading still okay

[Thaiger]

You can put your hopes to rest as Thailand will ban any use of cryptocurrencies as a form of payment. Officials believe that its widespread use will harm the country’s financial system and economy. The new rules that prevent using digital currencies as a form of payment will take effect from April 1. Businesses are given extra time until the end of the month to adapt. The change in rules won’t affect those who like to trade or invest in digital assets, so carry on. Companies, including cryptocurrency exchanges, are banned from providing similar payment methods. They’re also forbidden from […]

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[Cabra]

It was less than 2 weeks ago when Thailand tourism authorities said they where considering accepting crypto currencies due to Russians not having access to their cash. Classic... Right hand, meet left hand

[SirPixAlot]

Sometimes I get the feeling, that China is whispering into the Thai-Gov ear "how to deal" with citizens. Unfortunately TH try step by step to get control about every part of the people's life. Referring to China's "Smart-City Concept"

[Poolie]

9 minutes ago, SirPixAlot said:

Sometimes I get the feeling, that China is whispering into the Thai-Gov ear "how to deal" with citizens. Unfortunately TH try step by step to get control about every part of the people's life. Referring to China's "Smart-City Concept"

Could do worse, seen how many billionaires there is in China these days?

[palooka]

10 minutes ago, Poolie said:

Could do worse, seen how many billionaires there is in China these days?

How many paupers?

[Poolie]

2 minutes ago, palooka said:

How many paupers?

How many do you want there to be?

[palooka]

Think the Thai Treasury ( and a lot of others) hasn't got its head around cryptos and is treading warily, could be billions at stake in lost GST sales revenue.

[palooka]

6 minutes ago, Poolie said:

How many do you want there to be?

Think they may out number the billionaires somewhat so with Chinese population I'll go with 10% of the population.  Late in the day don't want to stress the grey matter with complicated equations or percentages. 

[Poolie]

8 minutes ago, palooka said:

Think they may out number the billionaires somewhat so with Chinese population I'll go with 10% of the population.  Late in the day don't want to stress the grey matter with complicated equations or percentages. 

Guess away, be my guest.

[AlexPTY]

31 minutes ago, palooka said:

Think the Thai Treasury ( and a lot of others) hasn't got its head around cryptos and is treading warily, could be billions at stake in lost GST sales revenue.

just driving by Birkub ads... those are everywhere in Thailand. it's like giving money to your Thai ex-bar girlfriend for safety

[Rainmaker]

There’s a race for which country will have the global digital currency.  I am curious which currency the Word Economic Forum   I believe that the Chinese Digital Yuan will be the world’s currency. The USA dollar has lost its power in several countries. As Saudi Arabia is going to sell oil to China and accept Chinese currency. Which before all crude oil transactions are done in U.S. dollars. With the sanctions on Russia.  Things are changing. Also Black Roock financial is in bed with China. So this story has significant implications about what is starting to happen in the world. Here’s another story to read 

https://asia.nikkei.com/Business/Markets/Currencies/Thailand-and-UAE-join-China-s-global-digital-currency-push