BOT calls on financial institutions not to do cryptocurrency business

business February 12, 2018 17:13

By The Nation

4,610 Viewed

The Bank of Thailand (BOT) is asking financial institutions in the Kingdom not to do business related to cryptocurrency, Governor Veerathai Santiprabhob said in a statement released on Monday.

The announcement said there was no Thai law covering cryptocurrency, and warned that there was a high risk for those investing in such currencies. 

The BOT is asking all financial institutions in Thailand not to do business related to cryptocurrency, including investment or trade, exchange, providing a business platform to service cryptocurrency, credit to buy cryptocurrency, and advisory services for investment in such a currency, Veerathai said.