Thailand to ban the use of crypto as a means of payment from April 1, according to Security and Exchange Commission. The regulator citied money laundering concern and the central bank unable to step in and play an active role.
The SEC stressed that the ban in not on crypto trading and digital assets.
It said digital assets do not provide any efficient form of payment amid high volatility of the asset class. Last year, some property developers looked into crypto to revive the sector by attracting foreigners to buy condominium through cryptocurrencies.
