Popular Post snoop1130 Posted July 8, 2021 Popular Post Share Posted July 8, 2021 FILE PHOTO: Thailand's central bank is seen at the Bank of Thailand in Bangkok, Thailand April 26, 2016. REUTERS/Jorge Silva BANGKOK (Reuters) - Thailand's central bank on Thursday warned against using digital assets such as Bitcoin and Ether as payment for goods and services given what it said were risks such as cyber theft and money laundering. The Bank of Thailand (BOT) had made it clear that digital assets were not legal tender, it said in a statement. Recently some enterprises had started soliciting payments in digital assets in exchange for goods and services, the BOT said, adding it had continuously monitored such developments. In using digital assets as a means of payment, both the payer and receiver could face risks such as price volatility, cyber theft, and money laundering, it said. "The BOT does not support the usage of digital assets as a means of payment for goods and services, a view that is consistent with many international organizations and regulators," it added. However, should the use of digital assets for payments become widespread, the BOT said it would coordinate with the Securities and Exchange Commission and relevant agencies to take measures to ensure such actions did not pose risks to the public or the economic and financial system. -- © Copyright Reuters 2021-07-08 - Whatever you're going through, the Samaritans are here for you - Follow ASEAN NOW on LINE for breaking COVID-19 updates 4 Link to comment Share on other sites More sharing options...
Popular Post ukrules Posted July 8, 2021 Popular Post Share Posted July 8, 2021 If I want paying for something in bags of steaming horse manure and somebody decides to pay what I want then it's none of the BOTs business. Surely they realise this already? 2 1 Link to comment Share on other sites More sharing options...
Popular Post phetphet Posted July 8, 2021 Popular Post Share Posted July 8, 2021 They do love to control. 5 Link to comment Share on other sites More sharing options...
Nojohndoe Posted July 8, 2021 Share Posted July 8, 2021 2 minutes ago, ukrules said: If I want paying for something in bags of steaming horse manure and somebody decides to pay what I want then it's none of the BOTs business. Surely they realise this already? So is it that cryptocurrency has evolved to such an inflated "value" that it supplants any "Coin of the Realm" in terms of trade thus aspects of applicable taxes? Perhaps "Equinocrypt" is worth registering? 2 Link to comment Share on other sites More sharing options...
ukrules Posted July 8, 2021 Share Posted July 8, 2021 1 hour ago, Nojohndoe said: So is it that cryptocurrency has evolved to such an inflated "value" that it supplants any "Coin of the Realm" in terms of trade thus aspects of applicable taxes? Perhaps "Equinocrypt" is worth registering? They're fussing over nothing. Link to comment Share on other sites More sharing options...
SCOTT FITZGERSLD Posted July 8, 2021 Share Posted July 8, 2021 TRANSLATION: bank of thailand does not know how to think for itself and will do whatever the big boys, uncle sam and china, will do. not that it is a thai thing. the whole world is like that. the U.S. declare was on drugs (mainly kakanabis) and the whole world follows brainlessly. next decade, U.S. declares kakanabis as medical and legal, and the whole worrld follows. maybe next decade the U.S. will decide that fecet is good to eat and great way to rehabilitise the xeroklarification, and the whole world will follow. 1 Link to comment Share on other sites More sharing options...
ukrules Posted July 8, 2021 Share Posted July 8, 2021 1 hour ago, SCOTT FITZGERSLD said: next decade, U.S. declares kakanabis as medical and legal, and the whole worrld follows. Quite possible, it's only illegal in most of the world due to US pressure during the mid 20th century, they went to great lengths and spent a lot of money convincing the entire world to make it illegal - now it looks like they changed their mind, lol 1 Link to comment Share on other sites More sharing options...
SnowyWiez Posted July 8, 2021 Share Posted July 8, 2021 Most still not practical to do for daily payments vrs lets say VISA due to time/cost of transfers. The bigger concern is probably controlling funds in and out of country Link to comment Share on other sites More sharing options...
RichardColeman Posted July 8, 2021 Share Posted July 8, 2021 6 hours ago, ukrules said: If I want paying for something in bags of steaming horse manure and somebody decides to pay what I want then it's none of the BOTs business. Surely they realise this already? Forgive me , I nothing really about these cryptocurrencies , but just how would the Thai government get their pound of flesh in taxes from transactions - unless ALL crypto transactions done in Thailand are monitored for purchases, wages and payments, the tax collecting system could loses trillions of due tax and the government pots empty slowly. 1 Link to comment Share on other sites More sharing options...
hotchilli Posted July 9, 2021 Share Posted July 9, 2021 12 hours ago, ukrules said: If I want paying for something in bags of steaming horse manure and somebody decides to pay what I want then it's none of the BOTs business. Surely they realise this already? Nah.. Link to comment Share on other sites More sharing options...
natway09 Posted July 9, 2021 Share Posted July 9, 2021 Nothing special about Thailand saying this, most officials are saying this worldwide as taxes, charges & excise the governments miss out on. The whole bitcoin thing has got them a bit "baffled 2 Link to comment Share on other sites More sharing options...
driver52 Posted July 9, 2021 Share Posted July 9, 2021 they'll soon change their mind...why? CBDCs incoming in 3...2.....1 ???? Link to comment Share on other sites More sharing options...
GrandPapillon Posted July 9, 2021 Share Posted July 9, 2021 fair warning, remember the poor guy who paid 2 pizzas for 75 BTC some 20 years ago? I think it came to 250m USD a pizza LOL Link to comment Share on other sites More sharing options...
fdsa Posted July 9, 2021 Share Posted July 9, 2021 2 hours ago, GrandPapillon said: fair warning, remember the poor guy who paid 2 pizzas for 75 BTC some 20 years ago? I think it came to 250m USD a pizza LOL ????♂️????♂️????♂️????♂️????♂️ Link to comment Share on other sites More sharing options...
kekalot Posted July 12, 2021 Share Posted July 12, 2021 On 7/9/2021 at 4:54 PM, GrandPapillon said: fair warning, remember the poor guy who paid 2 pizzas for 75 BTC some 20 years ago? I think it came to 250m USD a pizza LOL 10,000 BTC for 2 pizzas in 2010, now worth 343 millions but about double that at all time high 1 Link to comment Share on other sites More sharing options...
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