{"id":313868,"date":"2021-12-12T10:05:20","date_gmt":"2021-12-12T15:05:20","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=313868"},"modified":"2021-12-12T10:05:20","modified_gmt":"2021-12-12T15:05:20","slug":"bank-of-thailand-voices-concerns-over-cryptos-use-for-payments","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bank-of-thailand-voices-concerns-over-cryptos-use-for-payments","title":{"rendered":"Bank Of Thailand Voices Concerns Over Crypto\u2019s Use For Payments"},"content":{"rendered":"
Bank of Thailand (BoT) officials have stated that it’s not illegal to use cryptocurrency as means of payment but warned that users should be prepared to face a lot of price fluctuations.<\/p>\n
According to the officials, users “must be able to accept the risks” involved in using crypto assets.<\/p>\n
This week, the senior director at the Monetary Policy Department at the Bank of Thailand Sakkapop Panyanukul<\/a>, clarified the bank’s stance on cryptocurrencies.<\/p>\n He noted that the BoT is in discussion with the Securities and Exchange Commission (SEC)<\/a> on the regulation of cryptocurrencies. He also said the bank has engaged stakeholders and other agencies on the issue and is hoping to come up with better solutions.<\/p>\nBOT Is Planning To Regulate Cryptocurrencies<\/h2>\n