Thai Financial Regulators to Issue Guidance on Crypto Use

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It has recently became known the main financial regulators of Thailand plan to develop and issue a guide on the use of digital assets. A similar idea arose after a meeting of representatives of the three main financial structures of the country – the Central Bank, the Securities and Exchange Commission and the Ministry of Finance of the country. The main task that the officials have set themselves is to assist crypto users in the use of virtual money.

As part of the meeting, the employees of the departments came to the conclusion cryptocurrencies have recently started to enjoy great popularity among the citizens of the country. New money is increasingly being used not only as an investment tool, but also as an alternative way to pay for goods and services. This issue, by the way, is of most concern to regulators, because, in their opinion, the more crypto transactions are carried out by users, the more they are at risk of becoming victims of various fraudulent schemes.

As a result of a long discussion on the topic of digital assets, representatives of the three departments decided to immediately intervene in the process of the rapid development of the crypto industry. Given there is no ban on the use of digital assets in the country, the only thing left for the departments is to try to warn citizens about the possible consequences and risks. Thus, in order to somehow secure user funds, regulators intend to develop a guide for people who want to use cryptocurrencies in the very near future.

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