Thailand Bans Crypto as Means of Payment

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Thailand’s Security and Exchange Commission said on Wednesday

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That it will ban the use of crypto as a means of payment from April 1

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The regulator cited money laundering concerns and the inability of the central bank to step in and provide assistance as the reason behind the ban.

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The Thai SEC stressed that this is not a ban on crypto trading and digital assets

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In January, Thai authorities announced a plan to regulate digital asset payments in the country

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Thai authorities announced in early March that crypto trades on government approved

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The exchanges will be exempt from a 7% value-added-tax (VAT) until 2023.

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Onle ban on the use of crypto for payments

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Not ban on crypto trading and digital assets

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