Commercial banks in Thailand and other financial institutions are now allowed to engage in cryptocurrency activities, but under a set of rules.
The Bank of Thailand (BoT) issued a circular earlier this month to all banks and financial institutions, thus effectively voiding the previous BoT document on the subject from February. Back then the central bank banned Thai financial institutions from investing or trading in cryptocurrencies, offering cryptocurrency exchanges and creating platforms for cryptocurrency trading.
Now, the commercial banks and financial institutions in Thailand and their subsidiaries such as asset managers, brokerages, insurance firms, etc. can invest in cryptocurrencies and in some cases issue digital tokens, but have to comply with certain rules listed in the circular.
First and foremost, t...
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