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Bitcoin banned in Thailand

by on29 July 2013 1909 times
bitcoin

Using known decentralized virtual currency Bitcoin is prohibited until further notice in Thailand. The decision was made by the Central Bank of Thailand, responsible for the regulation of the complete financial market of that Asian country. Following their recommendation for unfinished existing Thai laws on issues of virtual currency and the lack of centralized control, recently they banned trade of Bitcoin coins, buying and selling products in the Bitcoin currency, each sending of Bitcoin coins outside of Thailand and receiving Bitcoin coins from person or institution outside Thailand.

In recent months the company Bitcoin Co. Ltd. promoted this currency in Thailand, trying to register their activities with the Thai authorities, and even held a meeting with representatives of the Central Bank, but as it seems, it's all over now.

All activities of Bitcoin Co. Ltd. in Thailand have been suspended until further notice, until the legalization of currency that is expected in not so near future. It will be interesting to see how will this story continue, and will Thailand be just one of many countries that will ban or try to ban this revolutionary currency, but one thing is certain, banks dont like it.

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Last modified on 29 July 2013
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