There will be a ban on crypto payments in Thailand from April 1, the SEC said.

 

There will be a ban on crypto payments in Thailand from April 1, the SEC said. Thailand's Securities and Exchange Commission (SEC) will prohibit cryptocurrency payments starting on April 1. Thailand's regulatory authority, according to Bloomberg, has published guidelines that prohibit the use of digital assets for the payment of goods and services. On April 1, 2022, Thailand will ban the use of digital assets as a form of payment for goods and services, starting with the first transaction. Businesses in Thailand will be prohibited from Openly advertising that they accept cryptocurrency payments and building systems, tools, and wallets to assist cryptocurrency transactions once the law is enforced. Businesses that are found to be in violation of the new crypto laws will be subject to legal action, which may include the temporary suspension or cancellation of their services, among other things.