In an ongoing effort to carve out a regulated crypto market for the general public, the Thailand Securities and Exchange Commission (SEC) announced a ban on the use of cryptocurrencies for payments. Parallelly, the Commission proposed a new rule that demands disclosure of service quality and IT usage information from crypto businesses including brokers, exchanges and dealers.
According to the notice issued by the Thai SEC, businesses in the region have been advised against accepting crypto payments from April 2022 after discussing its implications with the Bank of Thailand (BOT).