Bank of Thailand doesn’t support Digital Assets as a Means of Payment.

The central bank is working with the nation’s Securities and Exchange Commission to outline the rule to prohibit the use of digital assets to pay for goods and services. Licensed digital asset operators shall not support business sectors and shops in using digital assets as a means of payment.

The guidelines are as follows;

1.These businesses must not solicit or show they are ready to support shops in using digital assets as a means of payment for goods and services.

2.These businesses must not provide a system to shops to facilitate payment for goods and services.

3. The regulated businesses are not allowed to open e-wallets for merchants to receive digital asset payment.

4. In the event that a trader sells digital assets in Thai baht, the operators must transfer Thai baht to the seller’s account only.

5. These businesses must not provide any kind of services to support the transfer of digital assets from trader’s account to other accounts as a means of payment for goods and services.   

6. Any actions besides no.1-5 that encourages or promotes the use of digital assets as a means of payment shall not be proceeded.

Source:

https://www.bangkokpost.com/business/2253319/thailand-to-regulate-use-of-digital-assets-as-payments#:~:text=Thailand%20plans%20to%20ban%20digital,a%20bid%20to%20limit%20risks.&text=The%20central%20bank%20has%20been,use%20of%20crypto%20as%20payments.

https://www.bangkokpost.com/business/2224987/bank-of-thailand-says-doesnt-support-digital-assets-as-payments