Thailand has banned banks from cryptocurrency transactions

Thailand against cryptocurrency has gone the way of China. According to local source the Bangkok Post, the Bank of Thailand has banned financial institutions in the Kingdom to carry out any operations with cryptocurrencies.

«Banks are prohibited to invest in bitcoin and sell it, to exchange and to create the appropriate platform for business,» – says the decision of the regulator.

The ban may also be subject to the issuance of credits to customers of the Bank for the purchase of digital money and advice to customers to use the cryptocurrency as an investment tool. The Bank of Thailand imposes similar restrictions, as the authorities fear that «crypto-currencies can be used in the underground economy for money laundering and financing of terrorism».

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