Thailand’s government is concerned about “excessive speculation” in the kingdom’s booming crypto trading market.
Finance Minster Arkhom Termpittayapaisith fears the growing speculative mania could have a disastrous impact on Thailand’s capital market, according to a Bloomberg report.
The minister expressed his concerns in a speech at a capital market conference on Thursday.
Termpittayapaisith pointed to a huge increase in trading activity that pushed the crypto volume on the country’s regulated exchanges to 65 billion baht (US$2.17 billion) in January.
The total trading volume recorded in December 2020 was approximately 19 billion baht – about a third of the figure for January 2021.
The minister said, “Cryptocurrencies have enormous risk. Risk awareness will help those investors in avoiding excessive speculation on those assets.”
Thailand’s…
