Cryptocurrencies

The central bank of Thailand introduced regulations on cryptocurrency in today’s circular.

The governor VeerathaiSantiprabhob issued a circular, saying that all financial institutions, along with banks are now prohibited from trading and investing cryptocurrencies. The financial institutions have also the following prohibitions:

  • Offer cryptocurrency exchange
  • Allow usage of credit cards in cryptocurrencies investing
  • Create a platform for cryptocurrency trading
  • Advise customers to invest or trade cryptocurrencies

The similar move was done by the central bank of Qatar last week.

It was also stated by The Bank of Thailand that they are very concerned about the fraud and other possible problems caused by cryptocurrency transactions, while the digital currency can be used for supporting terrorism or money laundering.

There weren’t lots of good news in the crypto world these days. However, the currencies have been performing well since Friday. The Bitcoin price is above the 61.8 retracement level and is trading back above the 200-day MA. The buyers have already been encouraged by that situation, while the price has broken the resistant levels in the hourly chart.