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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