CBDC Plans Crypto Trading in Thailand

Thailand has taken steps to encourage the use of cryptocurrencies. Thailand’s central bank has stated that a central bank digital currency will be tested in the second quarter of 2022. The Thailand Stock Exchange will provide support for the trading of Bitcoin and other digital assets, following Thailand’s strategy to digital assets adoption.

Despite concerns that the use of cryptocurrencies as a form of payment poses a threat to Thailand’s banking industry, the country’s financial authorities have decided to restrict their use.

“Digital asset business operators have expanded their business to cover services related to the use of digital assets as a means of payment for goods and services,” according to a joint statement from the Bank of Thailand (BOT), the Securities and Exchange Commission (SEC), and the Ministry of Finance (MOF).

Thailand’s