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Fresh Off The Block: Thailand bans cryptocurrencies as means of payment and more

Khairani Afifi Noordin
Khairani Afifi Noordin3/28/2022 09:40 AM GMT+08  • 2 min read
Fresh Off The Block: Thailand bans cryptocurrencies as means of payment and more
Meta Platforms filed for crypto-related trademark applications while Bitcoin surged to the highest level since early 2022.
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Thailand’s Security and Exchange Commission is banning the use of cryptocurrencies as means of payment for goods and services, citing the need to protect financial stability and the national economy, among others.

Although cryptocurrencies will no longer be legal as a payment method in Thailand from April 1, holding and trading digital assets will still be permitted. Earlier this month, the Thai government announced that the trading of digital assets on government-approved exchanges would be exempt from a 7% value-added tax.

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