The Securities and Exchange Commission (SEC) is imposing a ban on the use of digital assets for goods and services, effective from April 1, citing concerns over the country’s financial stability, risks of cybertheft and losses from currency volatility.
Digital asset business operators and market participants said the SEC’s move, though it may have a puny impact on the fledgling local digital asset industry, will stunt innovation and kill long-term economic gains from adopting such payment systems.
According to the Bank of Thailand and the SEC, digital asset business operators must comply with the new rules within 30 days from April 1.
The first rule issued by the SEC states that all types of digital asset business operators must not do…
