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Thailand: BoT, SEC, and Ministry of Finance announce plans to introduce guidelines on digital assets

The Bank of Thailand ('BoT') announced, on 25 January 2022, its plans, together with the Office of the Securities and Exchange Commission ('SEC') and the Ministry of Finance, to introduce guidelines for the regulation of digital assets for their use as payment for goods and services. In particular, the BoT, the SEC, and the Ministry of Finance jointly discussed that guidelines are needed to regulate several aspects on the use of digital assets to mitigate risks that may result from their widespread adoption, such as the risk of loss of value caused by price volatility, cyber theft, and personal data leakage, or for digital assets to be used as a tool of money laundering.

You can read the press release, only available in Thai, here.