Altcoins Talks - Cryptocurrency Forum

Cryptocurrency Ecosystem => Stable Coins Forum => Topic started by: Malam90 on March 19, 2021, 05:00:42 AM

Title: Thai Central Bank Warns Against ‘Illegal’ Use of Baht-Denominated Stablecoin.
Post by: Malam90 on March 19, 2021, 05:00:42 AM

The Bank of Thailand has deemed any activity involving the THT stablecoin "illegal" on the basis it violates the nation's Currency Act.

The Bank of Thailand (BOT) has issued a warning against the use of Thai baht-denominated stablecoins, labeling them a threat to the stability of the national currency system.

In a press release on Wednesday, the central bank took specific aim against the baht stablecoin THT created on the South Korean stablecoin platform Terra.

“[THT] could cause fragmentation to the Thai currency system should THT or other similar stablecoins come to replace, substitute or compete with baht issued by the BOT,” the release reads. Source  (https://www.coindesk.com/thailand-central-bank-terra-stablecoin-tht)

Title: Re: Thai Central Bank Warns Against ‘Illegal’ Use of Baht-Denominated Stablecoin.
Post by: IyemRoker on March 21, 2021, 10:57:10 AM

The government of Thailand is still reasonable to commemorate everything because indeed the stable coin in the name of the Thai baht must get regulation from the Thai government.
If you do not have regulations and rules from related parties, then you will definitely get a warning for fear that the baht will later become a fraudulent coin and will eventually blame Thailand (if it is true it will be a fraud).