Express
Bank of Thailand Does Not Support Digital Assets As A Means Of Payment
Summary: The Bank of Thailand (BoT) announced on Thursday that digital assets are not legal tender. BoT mentioned the risk of price fluctuations, network theft, and money laundering when using digital assets, So it does not support the use of digital assets as a means of payment for goods and services. The bank said: "This view is consistent with ...
The Bank of Thailand (BoT) announced on Thursday that digital assets are not legal tender.
BoT mentioned the risk of price fluctuations, network theft, and money laundering when using digital assets, So it does not support the use of digital assets as a means of payment for goods and services.
The bank said: "This view is consistent with many international organizations and regulators such as the International Monetary Fund (IMF), the Bank for International Settlements (BIS), and central banks of England, the European Union, South Korea, and Malaysia".
Siritida Panomwon Na Ayudhya, Assistant President of the BOT Payment System Policy and Financial Technology Group, revealed that BOT has been monitoring the development of digital asset use cases.
By Mary Liu
Tags: Bank of Thailand,Digital Assets
Link: Bank of Thailand Does Not Support Digital Assets As A Means Of Payment [Copy]
