The Bank of Thailand has given a new crypto policy under which financial institutions, including commercial banks, and their subsidiaries can engage in crypto activities.
This follows the country’s crypto regulatory framework that went into effect last month. The Central Bank issued a new circular dated August 1 to all financial institutions in the country, informing them of its new crypto policies.
Thailand have outlined some rules and regulations for cryptocurrency exchange platforms and website. It also gave out the Dos and Dont for financial institutions that are interested in cryptocurrency.
The rules outlined by Thailand for financial institutions are as follows
They cannot issue digital tokens or provide any service selling them.
They cannot invest in digital assets which includes “both tokens and cryptocurrencies,” the BOT specifies.
They also must not engage in crypto businesses, including as exchanges, brokers, or dealers.
This quite interesting as Ukraine is also taking steps towards bringing out a benefiting regulation for the use of cryptocurrencies in the country.
Source:https://www.mntrends.com/2018/08/thailand-permits-crypto-activities-but-with-conditions-rules.html/