Bank of Thailand says doesn't support digital assets as payments

Asia's Tech News Daily
Bank of Thailand says doesn't support digital assets as payments

FILE PHOTO: A representation of the virtual cryptocurrency Bitcoin is seen in this picture illustration taken Oct 19, 2021. (Reuters)

The central bank on Wednesday warned companies about accepting digital assets as payment for goods and services, as more companies rolled out partnerships to accept major cryptocurrencies as payment.

“High volatility of digital asset prices, risk of cyber theft and personal data leakages and tools for money laundering could impact customers and businesses,” the Bank of Thailand (BoT) said in a statement.

The announcement comes as firms announce tie-ups with local cryptocurrency exchanges to accept digital assets as payments. The country has seen a surge in cryptocurrency trading and interest during the pandemic.

Property developer SC Assets Plc this week announced a partnership with digital assets exchange, Zipmex to allow customers to buy property using digital assets including Bitcoin, Ethereum and Zipmex tokens.

A similar partnership was announced between retailer, the Mall Group and rival exchange, Bitkub.

Local lenders have also been investing in cryptocurrency exchanges. Last month, Siam Commercial Bank Plc said it would acquire Thai-based exchange, Bitkub for 17.85 billion baht

Zipmex is backed and counts B Capital Group, the venture capital firm of Facebook co-founder Eduardo Saverin, as an investor.

The BoT said it was working with the securities and Exchange Commission to come up with regulatory models for digital assets as payments to limit risks.

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

IEA: tighter oil market due to limited impact omikron on oil demand

Photo: ANP The tightness in the global oil markets is greater than expected because the rapid advance of the omikron variant has had surprisingly little impact on the demand for ... Read more »

Cabinet sanctions Rs 973 crore to SBI for ex-gratia payment to borrowers

Representative image The government on Wednesday approved sanction of Rs 973.74 crore to State Bank of India (SBI) as reimbursement related to loan moratorium that was implemented in 2020 amid ... Read more »

CIABC urges govt to gradually reduce customs duties on British alcoholic beverages under proposed FTA

Representative image The apex body for liquor firms Confederation of Indian Alcoholic Beverage Companies has urged the government to gradually reduce customs duties on British alcoholic beverages under the proposed ... Read more »

Moldova offers paying January debt to Gazprom in stages, says Deputy PM Spinu

The actual risk of gas supplies being cut off exists, he also noted Read more »

'Wage-inflation spiral' warning

Read more »

Immigration collars 3 foreign fugitives

An Immigration Bureau officer shows a chart featuring the arrest of a Hungarian suspect at a condominium in Bangkok during a media briefing. (Photo supplied) Three foreign fugitives, two from ... Read more »

Hitachi Energy bags order worth Rs 160 crore to support electrification of rail routes

Representative image Hitachi Energy India on Wednesday said it has bagged orders of over Rs 160 crore to provide key electric components to support the electrification of rail routes in ... Read more »

Luxury fashion and jewelry more popular than before corona

Last Christmas, Richemont even experienced its strongest sales spurt in at least ten years. Shortly after the outbreak of the pandemic, even fewer of his products were sold. Sales of ... Read more »

The Dutch Data Protection Authority does not have to act against Google

Photo: ANP The Dutch Data Protection Authority (AP) does not have to investigate Google itself. This was determined by the judge in a case brought by the Consumers’ Association. He ... Read more »

Thanathorn denies copying other artists' drawings

“When She Opens the Door” by Thanathorn Juangroongruangkit. (Photo from his Facebook page) Progressive Movement leader Thanathorn Juangroongruangkit on Wednesday denied his auctioned drawings were copies of foreign artists' work, ... Read more »

Thailand's population: 66,171,439

The official population of Thailand as of Dec 31, 2021 was 66,171,439, according to an announcement of the central domicile registration office published in the Royal Gazette on Wednesday. The ... Read more »

Tata Steel Q3 PAT seen up 155% YoY to Rs. 9,676 cr: ICICI Direct

Tata Steel now takes a more prudent approach to its capital allocation strategy. ICICI Direct has come out with its third quarter (October-December’ 21) earnings estimates for the Metals & Mining sector. The ... Read more »

Jindal Stainless Hisar Q3 PAT seen up 78% YoY to Rs. 482 cr: ICICI Direct

A JSLL Infra Stainless bench at the tourist information centre in Delhi. ICICI Direct has come out with its third quarter (October-December’ 21) earnings estimates for the Metals & Mining sector. The brokerage ... Read more »

SAIL Q3 PAT seen up 66% YoY to Rs. 2,125 cr: ICICI Direct

(Image: PTI) ICICI Direct has come out with its third quarter (October-December’ 21) earnings estimates for the Metals & Mining sector. The brokerage house expects SAIL to report net profit at Rs.2,125 crore up ... Read more »

Ratnamani Metals and Tube Q3 PAT seen up 64% YoY to Rs. 99 cr: ICICI Direct

ICICI Direct has come out with its third quarter (October-December’ 21) earnings estimates for the Metals & Mining sector. The brokerage house expects Ratnamani Metals and Tube to report net profit at Rs.99 ... Read more »

Graphite India Q3 PAT seen up 668% YoY to Rs. 177 cr: ICICI Direct

Graphite India  | In FY21 so far, the stock has risen 137 percent to Rs 301.05 as on January 25, 2021, from Rs 127.10 as on March 31, 2020. MFs increased their holding in each quarter of the ... Read more »

Moneycontrol Pro Panorama | Red-hot yield: What can calm the markets' nerves?

Dear Reader, The Panorama newsletter is sent to Moneycontrol Pro subscribers on market days. It offers easy access to stories published on Moneycontrol Pro and gives a little extra by ... Read more »

Paytm shares close record low; ends below Rs 1,000 for first time since listing

Paytm operator One 97 Communications Shares of Paytm owner One97 Communications Ltd on January 19 ended at a record low with shares closing below Rs 1,000 a piece for the ... Read more »

Jindal Stainless Q3 PAT seen up 140% YoY to Rs. 408 cr: ICICI Direct

Jindal Stainless (Hisar) | India Ratings assigned A/RWE to company’s credit facilities. ICICI Direct has come out with its third quarter (October-December’ 21) earnings estimates for the Metals & Mining sector. The brokerage ... Read more »

Luxury fashion and Cartier jewelry more popular than before corona

Photo: ANP Clothing and jewelry from luxury brands have become quite popular again in the past year. The Swiss , known for fashion from the Chloé brand and jewelry from ... Read more »

Behind the scenes - Why BharatPe's board decided Ashneer Grover had to take leave of absence and what it really means

Ashneer Grover, co-founder and managing director, BharatPe Ashneer Grover, co-founder and managing director of the $3 billion valued fintech BharatPe said he has taken a voluntary leave of absence till ... Read more »

Premium auto dealership chain Landmark files papers for Rs 762 crore IPO

Representative image Automobile dealership chain Landmark Cars Ltd has filed preliminary prospectus with capital markets regulator Sebi to raise Rs 762 crore through an initial public offering. The public issue ... Read more »

Dileep Sanghani elected as IFFCO chairman

IFFCO. (PC-Shutterstock) Dileep Sanghani has been elected as chairman of the Indian Farmers Fertiliser Cooperative (IFFCO). The election was held on Wednesday, IFFCO said in a statement. These elections were ... Read more »

Wetherspoons says Downing Street 'partygate' staff should have been allowed to go to the pub instead

The pub chain, led by Brexiteer and once -prominent Boris Johnson supporter Tim Martin, confirmed that it will report a half-year loss after Plan B restrictions hit trading over the Christmas period. Read more »

Man arrested over B22m Bitcoin investment fraud

Sirichai Nimprem, 29, wearing glasses, reads an arrest warrant issued by the Phuket Provincial Court for public fraud, as police arrest him at a house in Muang district of Kanchanaburi ... Read more »

India's third COVID-19 wave likely to peak on January 23, daily cases to stay below 4 lakh: IIT Kanpur scientist

The third wave of the COVID-19 pandemic in India may peak on January 23 with daily cases likely to remain below the four lakh mark, according to a scientist at ... Read more »

NSE largest derivatives exchange for third consecutive year

National Stock Exchange(NSE) is  world’s largest derivatives exchange for 3rd consecutive year in 2021 in terms of number of contracts traded, according to the Futures Industry Association (FIA). In addition, ... Read more »

IndiGo says some flights to and from Delhi cancelled due to Republic Day curbs

Representative image Private carrier IndiGo on January 19 said some of its flights to and from Delhi have been cancelled due to Republic Day-related curbs. The airline has asked passengers ... Read more »

Thai summit draws attention to rare diseases

Policymakers need to start addressing the problem of rare diseases more seriously to help people suffering from them, says a locally based representative of one of largest pharmaceutical companies in ... Read more »

KFC China launches regional menu to cater to local tastes

Photo by: KFC Press Release KFC China's parent company, Yum China Holdings, Inc., announced on Jan. 18 that it had added traditional dishes to its menu lineup to cater to ... Read more »

Opposition to grill govt in general debate

House members attend a no-confidence debate at parliament in Bangkok in August last year. (Parliament photo) Opposition parties have agreed to file a motion seeking a general debate in the ... Read more »

Former Palang Pracharath leaders launch new party Sarng Anacot Thai will not propose Prayut as PM

Uttama Savanayana (sixth left), Sontirat Sontijirawong (seventh left) and other founding members on stage during the official introduction of the Sarng Anacot Thai Party on Wednesday. (Photo: Varuth Hirunyatheb) Former ... Read more »

Yes/no stickers to be replaced by online junk mail register

The ja/nee stickers on letter boxes, alerting delivery workers to whether or not the occupant is happy to get junk mail and advertising leaflets, will be a thing of the ... Read more »

Starbucks partners with Meituan to expand delivery services in China

Photo by: Fabian Holtappels/Pixabay Starbucks is expanding its delivery services in China, and it is doing this through a partnership with Meituan, a Beijing, China-headquartered delivery platform. The tie-up will ... Read more »

PM Modi to launch initiatives dedicated to Azadi Ka Amrit Mahotsav

(Image Courtesy: ANI) Prime Minister Narendra Modi will deliver the keynote address at the national launch ceremony of ‘Azadi Ke Amrit Mahotsav se Swarnim Bharat Ke Ore’ on Thursday via ... Read more »

Both Omicron & Delta variants causing surge in COVID-19 cases: Kerala health minister

FILE – Maya Goode, a COVID-19 technician, performs a test on Jessica Sanchez outside Asthenis Pharmacy in Providence, R.I., Dec. 7, 2021. Scientists are seeing signals that COVID-19′s alarming omicron ... Read more »

Port of Rotterdam: more incidents due to hasty mooring of ships

Photo: ANP The port of Rotterdam saw more incidents last year when sea-going vessels were docked. According to Harbor Master René de Vries, this is often due to hasty behavior ... Read more »

Mulayam tried to convince Aparna Yadav not to join BJP: Akhilesh

Samajwadi Party leader Akhilesh Yadav Samajwadi Party patriarch Mulayam Singh Yadav tried hard to dissuade his daughter-in-law Aparna Yadav from joining the BJP, party chief Akhilesh Yadav said on Wednesday ... Read more »

'How I met your Father': Is the gender flip on the 'Mother' format a hit?

‘How I Met Your Father’ is a spin off from the original sitcom ‘How I Met Your Mother’. Image credit: Twitter) Spawning from the sitcom hit show ‘How I Met ... Read more »

COVID-19: SII CEO Adar Poonawalla calls for faster vaccination at World Economic Forum

The vaccination rate needs to be faster worldwide for the Covid-19 pandemic to end, Serum Institute of India (SII) CEO Adar Poonawalla said while speaking at the World Economic Forum (WEF). Poonawalla ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic