The Thai government will not ban cryptocurrency trading, says Finance Minister Apisak Tantivorawong, but a regulatory framework to govern digital currencies will be made more clear within a month.
After a recent discussion, related agencies agreed that regulators cannot stop the use of virtual currencies but will have to regulate and control them in an appropriate manner, Mr Apisak said at yesterday’s “Thailand Takeoff 2018” seminar hosted by Post Today.
The central bank, SEC, Finance Ministry and Anti-Money Laundering Office (Amlo) have agreed to set up a working panel tasked with considering potential measures to regulate digital currencies.
A source at the Finance Ministry said the working panel will soon lay down a regulatory framework for digital coins.
Regulating cryptocurrencies poses difficulties because no consensus exists on best regulatory practices, the source said.
Author: Richard Abermann