Central Bank of Thailand asks to refrain from dealing with crypto-currencies

The central bank recommend to the banks and financial institutions refrain from making transactions or supporting transactions related to crypto-currencies.

Transactions that should be avoided by all financial institutions: investing, selling or buying crypto-currency for financial institutions or their clients; provision of exchange services for crypto-currencies through channels for servicing financial institutions; support platforms that are used to perform crypto-currency transactions; allow customers to use their credit cards to purchase crypto-currencies and provide services or advice to customers about investments or exchange in the crypto-currency.

Moreover, the central bank also urged financial institutions to take special care with regard to deposit and loan services that may be associated with the opening of accounts or the use of accounts for crypto-currency transactions.

Financial institutions were instructed to verify their clients' transactions in accordance with the law and not allow transactions that could lead to violations of the law.

Source: englishnews.thaipbs.or.th