The Bank of Thailand plans to launch a national digital currency (CBDC). Back in the spring, the regulator announced trials of its token.
At the same time, the Central Bank is very negative concerning bitcoin and other virtual coins.
On December 7, the Central Bank issued a decree requiring commercial banks to stop operations with digital assets. First of all, this concerns investments in cryptocurrencies since such instruments are subject to acute volatility.
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The document notes: "We do not want Thai banks to engage in digital asset transactions because banks are responsible for safeguarding customer deposits and such investments are risky."
The regulator is also concerned about the growth of transactions to pay for goods and services in digital currencies. He urged shops and other establishments to stop accepting virtual coins.
In addition to volatility, the use of such tools also creates cyber risks for users, which can lead to the loss of personal data.