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Thailand Doesn't Prohibit Crypto Use for Payments but Warns of Price Fluctuation


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Bank of Thailand’s officials say that using cryptocurrency as a means of payment is not illegal. However, they added that users “must be able to accept the risks,” including price fluctuation.

 

Using Crypto to Pay for Goods and Services Is Not Illegal in Thailand

 

Sakkapop Panyanukul, senior director at the Bank of Thailand (BOT)’s Monetary Policy Department, clarified the central bank’s cryptocurrency stance this week.

 

He explained that the Bank of Thailand is currently discussing how to regulate cryptocurrency with the Thai Securities and Exchange Commission (SEC), related agencies, and stakeholders. The bank aims to limit consumer risks associated with using cryptocurrency for payments.

 

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-- © Copyright Bitcoin 2021-12-13
 

 

 

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18 minutes ago, wombat said:

Is there a Thai Gold Shop that will exchange crypto for Gold?

Not directly, I think. But what stops you from let's say withdrawing crypto from Bitkub to your Thai bank account and then making a QR code payment to the gold shop?

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On 12/13/2021 at 8:53 AM, wombat said:

Is there a Thai Gold Shop that will exchange crypto for Gold?

Bullionstar in Singapore (which as of 48 hours ago, is now open to vaccinated Thai travellers: and YES they accept the Morphrom generated QR code).   Much safer to store your gold bars there too (not AT Bullionstar itself although they offer those services... but at any of the major banks, all of which of course have SDB services).   

Edited by Heng
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On 12/13/2021 at 11:25 AM, LukKrueng said:

Can you use a single e-wallet to buy and sell in different countries or must use seperate wallet for each exchange? 

You can use Binance P2P and trade with buyers and sellers in any country.   If you want to settle into a bank account you have in Dubai or London, just tick the appropriate currency and add your local bank account there (presuming you have one).  

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